26 May 2015
NZD/USD finds support at 0.7225
FXStreet (Cocoa) - And 75 pips before, the NZD/USD found support at the 0.7225 level. The US dollar rally is dragging the New Zealand dollar down to its lowest level since March 11 as the pair fell from 0.7300 to trade as low as 0.7225.
The USD started the day with a strong note after the long Memorial weekend in the US. Then good housing and confidence data fueled the DXY rally even more and now it is the king of the day.
Currently, NZD/USD is trading at 0.7235, down 1.00% on the day, having posted a daily high at 0.7324 and low at 0.7226. NZD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If pair extends bounce from 0.7225, it will find resistances at 0.7240, 0.7300 and 0.7320. To the downside, supports are at 0.7225, 0.7165 and 0.7120.
The USD started the day with a strong note after the long Memorial weekend in the US. Then good housing and confidence data fueled the DXY rally even more and now it is the king of the day.
Currently, NZD/USD is trading at 0.7235, down 1.00% on the day, having posted a daily high at 0.7324 and low at 0.7226. NZD/USD spot is in oversold territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If pair extends bounce from 0.7225, it will find resistances at 0.7240, 0.7300 and 0.7320. To the downside, supports are at 0.7225, 0.7165 and 0.7120.