17 Feb 2015
NZD/USD on its way to retest monthly highs
FXStreet (Mumbai) - The New Zealand dollar remained close to four–week high levels against the US counterpart in the Asian morning, largely mirroring the gains in the Aussie on neutral RBA’s minutes.
NZD/USD eyes 50-DMA
Currently, the NZD/USD trades higher by 0.16% at 0.7514, heading towards fresh monthly highs reached in the previous session at 0.7531 levels. NZD/USD extended its upward trajectory mainly piggybacking the Aussie as the AUD/USD rose to fresh session highs post release of RBA’s minutes. Moreover, the kiwi remains higher as traders continue to cheer better than forecasts New Zealand’s retail sales numbers.
In the day ahead, the pair is likely to remain underpinned ahead of Fonterra’s GDT Price Index and US housing and manufacturing data for fresh moves on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7531 (Feb 16 High) levels and above which it could extend gains to 0.7593 (50-DMA) levels. To the downside immediate support might be located at 0.7470 levels below that at 0.7430 levels.
NZD/USD eyes 50-DMA
Currently, the NZD/USD trades higher by 0.16% at 0.7514, heading towards fresh monthly highs reached in the previous session at 0.7531 levels. NZD/USD extended its upward trajectory mainly piggybacking the Aussie as the AUD/USD rose to fresh session highs post release of RBA’s minutes. Moreover, the kiwi remains higher as traders continue to cheer better than forecasts New Zealand’s retail sales numbers.
In the day ahead, the pair is likely to remain underpinned ahead of Fonterra’s GDT Price Index and US housing and manufacturing data for fresh moves on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7531 (Feb 16 High) levels and above which it could extend gains to 0.7593 (50-DMA) levels. To the downside immediate support might be located at 0.7470 levels below that at 0.7430 levels.