9 Mar 2015
NZD/USD extends losses with 0.7300 in sight
FXStreet (Mumbai) - NZD/USD extended its downward trajectory and printed fresh one-month lows in the late Asian session as broad based US dollar strength continues to dent the Kiwi pair.
NZD/USD likely to test 0.73 handle
Currently, the NZD/USD pair trades -0.36% lower at 0.7333 levels, retreating from fresh one-month lows reached at 0.7322 levels an hour ago. NZD/USD falls further in red; extending its losing streak as US dollar holds upbeat data backed gains and continues to hammer the pair lower. Moreover, China’s GDP forecast downgrade and latest moves by RBNZ continues to keep the gains in the Kiwi at bay.
Meanwhile, traders now shift their attention towards RBNZ’s Cash rate announcement due later in the week amid lack of significant US macro data in the day ahead.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7400 levels and above which it could extend gains to 0.7430 (Feb 5 High) levels. To the downside immediate support might be located at 0.7312 (Feb 12 Low) levels below that at 0.7288 (Feb 4 Low) levels.
NZD/USD likely to test 0.73 handle
Currently, the NZD/USD pair trades -0.36% lower at 0.7333 levels, retreating from fresh one-month lows reached at 0.7322 levels an hour ago. NZD/USD falls further in red; extending its losing streak as US dollar holds upbeat data backed gains and continues to hammer the pair lower. Moreover, China’s GDP forecast downgrade and latest moves by RBNZ continues to keep the gains in the Kiwi at bay.
Meanwhile, traders now shift their attention towards RBNZ’s Cash rate announcement due later in the week amid lack of significant US macro data in the day ahead.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7400 levels and above which it could extend gains to 0.7430 (Feb 5 High) levels. To the downside immediate support might be located at 0.7312 (Feb 12 Low) levels below that at 0.7288 (Feb 4 Low) levels.