21 Nov 2014
NZD/USD rejected at 0.79
FXStreet (Mumbai) - The New Zealand dollar has erased most of its gains against the greenback, after facing rejection at 0.7900 levels.
The NZD/USD pair traded 0.05% higher at 0.7875 at the time of writing. The kiwi had rebounded from the 0.78 level yesterday, although the currency appears to have lost steam after clocking a high of 0.7899 today. Moreover, the currency had gained today after the official data from the Reserve Bank of New Zealand (RBNZ) revealed credit card spending rose at a faster rate in October. The credit card billing rose 1.3% month-on-month after the 0.2% gain in September. Year-over-year the spending rose 6.7%, faster than the 4.5% increase in September.
NZD/USD Technical Levels
The pair has an immediate support at 0.7836, under which losses could be extended to 0.7805 levels. Meanwhile, resistance is seen at 0.79 and 0.7926 levels.
The NZD/USD pair traded 0.05% higher at 0.7875 at the time of writing. The kiwi had rebounded from the 0.78 level yesterday, although the currency appears to have lost steam after clocking a high of 0.7899 today. Moreover, the currency had gained today after the official data from the Reserve Bank of New Zealand (RBNZ) revealed credit card spending rose at a faster rate in October. The credit card billing rose 1.3% month-on-month after the 0.2% gain in September. Year-over-year the spending rose 6.7%, faster than the 4.5% increase in September.
NZD/USD Technical Levels
The pair has an immediate support at 0.7836, under which losses could be extended to 0.7805 levels. Meanwhile, resistance is seen at 0.79 and 0.7926 levels.