26 Mar 2015
NZD/USD approaches weekly highs
FXStreet (Córdoba) - The decline of the US dollar across the board pushed the NZD/USD pair to the upside. Price climbed from 3-day lows at 0.7569 to 0.7664. “The US dollar is broadly lower, dragged down by the escalation of the conflict in Yemen, month and quarter end position adjustments and the ongoing technical correction following last week's FOMC meeting,” explained analysts from Brown Brothers Harriman.
Currently NZD/USD is hovering around 0.7650, up 0.60% for the day. Commodity currencies are rising as crude oil and gold prices soar. Stocks are falling sharply in Europe and Wall Street futures point to a negative opening.
NZD/USD levels to watch
The recent rally brought the pair near weekly highs that lie at 0.7695; before that level, the kiwi could face resistance at 0.7675 (Mar 23 high). On the opposite direction, support might lie at 0.7600 and below here at 0.7570 (daily low).
Currently NZD/USD is hovering around 0.7650, up 0.60% for the day. Commodity currencies are rising as crude oil and gold prices soar. Stocks are falling sharply in Europe and Wall Street futures point to a negative opening.
NZD/USD levels to watch
The recent rally brought the pair near weekly highs that lie at 0.7695; before that level, the kiwi could face resistance at 0.7675 (Mar 23 high). On the opposite direction, support might lie at 0.7600 and below here at 0.7570 (daily low).