1 Dec 2014
Kiwi recovers losses
FXStreet (Mumbai) - The New Zealand dollar recovered from the day’s low against the US dollar to trade on a flat note, after hitting the lowest since November 25 on weak China data.
The NZD/USD pair traded 0.26% lower at 0.7822 at the time of writing. The pair had slumped to 0.7776 levels earlier today, after the official data in China showed the PMI manufacturing index at 50.3 in November, compared to October’s 50.8. On the other hand, the US dollar remains broadly as crude prices extended their decline today.
NZD/USD Technical Levels
The pair has an immediate resistance located at 0.7860 (50-DMA), above which another stiff resistance is located at 0.7900. Meanwhile, support is seen at 0.7800 and 0.7776 levels.
The NZD/USD pair traded 0.26% lower at 0.7822 at the time of writing. The pair had slumped to 0.7776 levels earlier today, after the official data in China showed the PMI manufacturing index at 50.3 in November, compared to October’s 50.8. On the other hand, the US dollar remains broadly as crude prices extended their decline today.
NZD/USD Technical Levels
The pair has an immediate resistance located at 0.7860 (50-DMA), above which another stiff resistance is located at 0.7900. Meanwhile, support is seen at 0.7800 and 0.7776 levels.