1 May 2015
NZD/USD keeps losses below 0.76
FXStreet (Mumbai) - The New Zealand dollar recovers partial losses versus its American counterpart, lifting NZD/USD closer to 0.76 barrier, on the back of a muted US dollar across the board while NZ FinMin Bill English’s comments in early Asia continues to weigh on the Kiwi.
NZD/USD struggles below 0.76
Currently, the NZD/USD pair trades lower by -0.38% at 0.7587, facing rejection at 0.76 handle this session. NZD/USD remains in red following New Zealand’s Finance Minister’s comments that rate-hike stance may be altered given the slowing inflation expectation in the NZ economy.
Moreover, downbeat China manufacturing PMI reading coupled with subdued oil and gold prices also continue to remain a drag on NZD/USD.
Meanwhile, markets now turn their focus on ISM manufacturing PMI and revised consumer sentiment numbers from the US later in the day for further impact on the Kiwi.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7610 (Today’s High) levels and above which it could extend gains to 0.7670 levels. To the downside immediate support might be located at 0.7570 (Today’s Low) levels below that at 0.7540 (April 24 Low) levels.
NZD/USD struggles below 0.76
Currently, the NZD/USD pair trades lower by -0.38% at 0.7587, facing rejection at 0.76 handle this session. NZD/USD remains in red following New Zealand’s Finance Minister’s comments that rate-hike stance may be altered given the slowing inflation expectation in the NZ economy.
Moreover, downbeat China manufacturing PMI reading coupled with subdued oil and gold prices also continue to remain a drag on NZD/USD.
Meanwhile, markets now turn their focus on ISM manufacturing PMI and revised consumer sentiment numbers from the US later in the day for further impact on the Kiwi.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7610 (Today’s High) levels and above which it could extend gains to 0.7670 levels. To the downside immediate support might be located at 0.7570 (Today’s Low) levels below that at 0.7540 (April 24 Low) levels.