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6 Feb 2015
NZD/USD rides higher on Aussie strength
FXStreet (Mumbai) - NZD/USD advanced in the mid-European session, extending its long stretch of losses, largely mirroring gains from the Aussie amid thin demand due to a national holiday in New Zealand.
Supported above 0.7400
Currently, the NZD/USD extended gains and trades at 0.7423 levels, up 0.20% on the day, having posted day’s low at 0.7390 and fresh day’s high at 0.7434 levels. The kiwi continues its upward trajectory mimicking gains from AUD/USD following growth and inflation adjustment by the Reserve Bank of Australia (RBA) earlier today.
Meanwhile, markets are shifting attention to US jobs data, which could further support the rally.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7439 and above which it could extend gains to 0.7454 levels. To the downside, immediate support might be located at 0.7340 levels and below that at 0.7300 levels
Supported above 0.7400
Currently, the NZD/USD extended gains and trades at 0.7423 levels, up 0.20% on the day, having posted day’s low at 0.7390 and fresh day’s high at 0.7434 levels. The kiwi continues its upward trajectory mimicking gains from AUD/USD following growth and inflation adjustment by the Reserve Bank of Australia (RBA) earlier today.
Meanwhile, markets are shifting attention to US jobs data, which could further support the rally.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7439 and above which it could extend gains to 0.7454 levels. To the downside, immediate support might be located at 0.7340 levels and below that at 0.7300 levels