26 Aug 2015
NZD/USD consolidates to the upside near 0.6500
FXStreet (Mumbai) - NZD/USD maintains the bid tone in the mid-European session, as the New Zealand continues to enjoy risk-sentiment driven gains versus its American rival as focus now shifts towards fresh US fundamentals due on the cards ahead of US open.
NZD/USD capped below 0.6515
Currently, the NZD/USD pair trades +0.36% at 0.6500, having posted a high at 0.6513 and a low at 0.6463. The NZD/USD pair keeps the green zone, consolidating in a narrow range as markets now await the upcoming crucial data for further momentum on the pair.
Later in the session, US durable goods for July are due, expected to post a huge drop, from 3.4% to -0.4%, while the core gauge is predicted to decrease from 0.8% to 0.4%. Worsening key macroeconomic figures might re-ignite risk-off moods. Data will be followed by New York Fed President William Dudley's speech.
While the latest PBOC action also continues to keep the Kiwi supported as China is the OZ economy’s top export destination. The Chinese central bank injected 140 billion yuan ($21.80 billion) into the financial system one day after policymakers cut the benchmark interest rates.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6513 (Today’s High) levels and above which it could extend gains 0.6586 (Aug 17 High) levels. To the downside immediate support might be located at 0.6463 (Today’s Low) below that at 0.6400.
NZD/USD capped below 0.6515
Currently, the NZD/USD pair trades +0.36% at 0.6500, having posted a high at 0.6513 and a low at 0.6463. The NZD/USD pair keeps the green zone, consolidating in a narrow range as markets now await the upcoming crucial data for further momentum on the pair.
Later in the session, US durable goods for July are due, expected to post a huge drop, from 3.4% to -0.4%, while the core gauge is predicted to decrease from 0.8% to 0.4%. Worsening key macroeconomic figures might re-ignite risk-off moods. Data will be followed by New York Fed President William Dudley's speech.
While the latest PBOC action also continues to keep the Kiwi supported as China is the OZ economy’s top export destination. The Chinese central bank injected 140 billion yuan ($21.80 billion) into the financial system one day after policymakers cut the benchmark interest rates.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6513 (Today’s High) levels and above which it could extend gains 0.6586 (Aug 17 High) levels. To the downside immediate support might be located at 0.6463 (Today’s Low) below that at 0.6400.