18 Dec 2014
NZD/USD stuck at 10-DMA after US weekly jobs data
FXStreet (Mumbai) - The NZD/USD pair eased off from the highs to trade below the 10-DMA located at 0.7740, after a better-than-expected weekly US jobs data hit the wires.
The pair now trades 0.36% higher at 0.7737 levels, compared to the previous session’s close of 0.7704. Weekly initial unemployment insurance claims fell to 289,000 from 295,000 a week ago, lower than the 295,000 forecast by economists. The four-week average, a more accurate measure of labor market strength, has declined to 298,750 from 299,500 a week ago.
The Kiwi has been on the rise since the Asians session after New Zealand reported third quarter GDP at 1.0%, beating the estimate of a 0.7% rise and up from a growth rate of 0.7% in the three months to June.
NZD/USD Technical Levels
The pair has an immediate resistance located at 0.7740 (10-DMA), above which gains could be extended to 0.7762 levels. Meanwhile, support is seen at 0.7710 and 0.7682 levels.
The pair now trades 0.36% higher at 0.7737 levels, compared to the previous session’s close of 0.7704. Weekly initial unemployment insurance claims fell to 289,000 from 295,000 a week ago, lower than the 295,000 forecast by economists. The four-week average, a more accurate measure of labor market strength, has declined to 298,750 from 299,500 a week ago.
The Kiwi has been on the rise since the Asians session after New Zealand reported third quarter GDP at 1.0%, beating the estimate of a 0.7% rise and up from a growth rate of 0.7% in the three months to June.
NZD/USD Technical Levels
The pair has an immediate resistance located at 0.7740 (10-DMA), above which gains could be extended to 0.7762 levels. Meanwhile, support is seen at 0.7710 and 0.7682 levels.