18 Aug 2015
NZD/USD rebounds as dairy prices rise
FXStreet (Córdoba) - The kiwi rose across the board after the GlobalDairyTrade index showed an increase of 14.8%. NZD/USD rose from 0.6560 to 0.6598, approaching daily highs. Currently it trades at 0.6570/75, around the same level it closed yesterday.
The pair was able to erase losses and losses but then failed to remain near the 0.6600 area amid a stronger US dollar in the market. Greenback remains the top performer while the kiwi climbed boosted by diary prices. AUD/NZD dropped to 1.1110, hitting the lowest level since August 12.
NZD/USD technical levels
To the upside, the key short-term immediate resisted is located at 0.6600/05 (daily high) and above here at 0.6615 and 0.6645/50 (August 12 high). On the opposite direction, support might lie a t 0.6550/55 (daily low), 0.6525 and 0.6515.
The pair was able to erase losses and losses but then failed to remain near the 0.6600 area amid a stronger US dollar in the market. Greenback remains the top performer while the kiwi climbed boosted by diary prices. AUD/NZD dropped to 1.1110, hitting the lowest level since August 12.
NZD/USD technical levels
To the upside, the key short-term immediate resisted is located at 0.6600/05 (daily high) and above here at 0.6615 and 0.6645/50 (August 12 high). On the opposite direction, support might lie a t 0.6550/55 (daily low), 0.6525 and 0.6515.