5 Dec 2014
NZD/USD pair to end lower for the third consecutive week
FXStreet (Mumbai) - The Kiwi is all set to end lower against the greenback for the third consecutive week after a stellar November month jobs report in the US pushed the US dollar higher across the board.
The NZD/USD pair extended losses post Non-farm payrolls data to trade 0.73% lower at 0.7726 levels. The pair hit a four-week low of 0.7708 after the payrolls data for November printed at a whooping 321K, compared to the expected print of 230K. Meanwhile, the Kiwi has been on a losing side since last three trading sessions after repeatedly failing to extend gains above the 50-DMA level since mid-November.
NZD/USD Technical Levels
The pair has an immediate support located at 0.77, under which losses could be extended to 0.7660 (Nov 7 low). Meanwhile, resistance is seen at 0.7790 (5-DMA) and 0.7844 (50-DMA).
The NZD/USD pair extended losses post Non-farm payrolls data to trade 0.73% lower at 0.7726 levels. The pair hit a four-week low of 0.7708 after the payrolls data for November printed at a whooping 321K, compared to the expected print of 230K. Meanwhile, the Kiwi has been on a losing side since last three trading sessions after repeatedly failing to extend gains above the 50-DMA level since mid-November.
NZD/USD Technical Levels
The pair has an immediate support located at 0.77, under which losses could be extended to 0.7660 (Nov 7 low). Meanwhile, resistance is seen at 0.7790 (5-DMA) and 0.7844 (50-DMA).