6 May 2014
NZD/USD hits fresh 4-week high
FXStreet (Córdoba) - The NZD/USD managed to pierce above the 0.8700 mark and stretched to its highest level in nearly a month, helped by Aussie gains.
The NZD/USD rose to a fresh 4-week high of 0.8717 in recent dealings and it remains biased north, threatening highs. At time of writing, the NZD/USD is trading at 0.8715, recording a 0.46% gain on the day.
From a wider view, the NZD/USD is extending a recovery from last week's low of 0.8515 and approaching multi-year highs scored last month as amid high NZ-US interest rate differentials and low FX volatility, the NZD/USD stands as a carry trade opportunity.
NZD/USD levels to watch
In terms of technical levels, if the NZD/USD breaks above 0.8717, next resistances could be found at 0.8744 (2014 high Apr 10) and 0.8782 (Aug 2 2011 high). On the other hand, supports are seen at 0.8675 (May 6 low), 0.8647 (May 5 low) and 0.8624 (21-day SMA).
The NZD/USD rose to a fresh 4-week high of 0.8717 in recent dealings and it remains biased north, threatening highs. At time of writing, the NZD/USD is trading at 0.8715, recording a 0.46% gain on the day.
From a wider view, the NZD/USD is extending a recovery from last week's low of 0.8515 and approaching multi-year highs scored last month as amid high NZ-US interest rate differentials and low FX volatility, the NZD/USD stands as a carry trade opportunity.
NZD/USD levels to watch
In terms of technical levels, if the NZD/USD breaks above 0.8717, next resistances could be found at 0.8744 (2014 high Apr 10) and 0.8782 (Aug 2 2011 high). On the other hand, supports are seen at 0.8675 (May 6 low), 0.8647 (May 5 low) and 0.8624 (21-day SMA).