8 Apr 2015
NZD/USD firm above 0.75
FXStreet (Mumbai) - NZD/USD extends overnight gains and firms in the mid-Asian session, snapped its two back-to-back session of declines, largely as the Kiwi rebounded strongly from yesterday's post-RBA choppiness.
NZD/USD eyes 20-DMA
Currently, the NZD/USD pair trades higher by 0.40% at fresh session highs of 0.7527, bouncing-off 0.75 barrier. NZD/USD emerged as the strongest performer in Asia as the traders moved past RBA’s decision of keeping rates steady and now turn their attention towards the upcoming FOMC minutes release later today.
Also, broad based US dollar weakness, in a corrective slide after the recent heavy gains also pushed NZD/USD higher. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies drops -0.27% at fresh three day highs near 97.98.
Meanwhile, in absence of NZ data for the day, the pair may take fresh cues from FOMC minutes due tomorrow for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7535 (20-DMA) levels and above which it could extend gains to 0.7559 (100-DMA) levels. To the downside immediate support might be located at 0.7500 levels below that at 0.7450 levels.
NZD/USD eyes 20-DMA
Currently, the NZD/USD pair trades higher by 0.40% at fresh session highs of 0.7527, bouncing-off 0.75 barrier. NZD/USD emerged as the strongest performer in Asia as the traders moved past RBA’s decision of keeping rates steady and now turn their attention towards the upcoming FOMC minutes release later today.
Also, broad based US dollar weakness, in a corrective slide after the recent heavy gains also pushed NZD/USD higher. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies drops -0.27% at fresh three day highs near 97.98.
Meanwhile, in absence of NZ data for the day, the pair may take fresh cues from FOMC minutes due tomorrow for further momentum on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7535 (20-DMA) levels and above which it could extend gains to 0.7559 (100-DMA) levels. To the downside immediate support might be located at 0.7500 levels below that at 0.7450 levels.