10 Jul 2015
NZD/USD consolidates near 0.6750
FXStreet (Mumbai) - The New Zealand bounced-off lows and swung back higher against the American dollar in mid-European session, keeping NZD/USD in a slim range on the 0.67 handle. The Kiwi continues to remain supported by stabilizing Chinese stock markets while gains in the Aussie also boosted the OZ counterpart.
NZD/USD bounces-off 0.6738
Currently, the NZD/USD pair trades higher by 0.31% at 0.6763, in a bid to retest session highs at 0.6770. The Kiwi extends gains for the third day today on the back of a broadly stronger US dollar, easing Grexit fears, China stocks rebound and finally on solid jobs report from Australia.
New proposals submitted by Greece and recovery seen in China stocks sparked risk-on sentiment which added to the gains in the Kiwi. Markets remain wary ahead of Fed Yellen’s speech on US economic outlook which may cause some volatility.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6770 (Today’s High) levels and above which it could extend gains to 0.6800. To the downside immediate support might be located at 0.6738 (Today’s low) below that at 0.6699 (July 9 Low) levels.
NZD/USD bounces-off 0.6738
Currently, the NZD/USD pair trades higher by 0.31% at 0.6763, in a bid to retest session highs at 0.6770. The Kiwi extends gains for the third day today on the back of a broadly stronger US dollar, easing Grexit fears, China stocks rebound and finally on solid jobs report from Australia.
New proposals submitted by Greece and recovery seen in China stocks sparked risk-on sentiment which added to the gains in the Kiwi. Markets remain wary ahead of Fed Yellen’s speech on US economic outlook which may cause some volatility.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6770 (Today’s High) levels and above which it could extend gains to 0.6800. To the downside immediate support might be located at 0.6738 (Today’s low) below that at 0.6699 (July 9 Low) levels.