20 Jan 2015
NZD/USD dives deeper to fresh daily lows at 0.7723
FXStreet (Mumbai) - The New Zealand dollar fell further in the Asian morning, snapping two consecutive days of gains as the USD bulls jumped back into the bids after a brief reversal seen yesterday.
Currently, the NZD/USD traded at fresh daily lows at 0.7723 levels, down -0.75% on the day. The NZD/USD pair shrugged off upbeat NZ Business confidence numbers and also failed to find good support from better than forecasts Chinese GDP and retails sales numbers as the USD bulls stormed their way higher against the Kiwi. NZD/USD remains pressured on the back of lower inflationary pressures and steady growth prospects.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7771 (50-DMA) and above which it could extend gains to 0.7810 (100-DMA) levels. To the downside, immediate support might be located at 0.7701 (Jan 15 Low) levels and below that at 0.7688 (Jan 14 Low) levels.
Currently, the NZD/USD traded at fresh daily lows at 0.7723 levels, down -0.75% on the day. The NZD/USD pair shrugged off upbeat NZ Business confidence numbers and also failed to find good support from better than forecasts Chinese GDP and retails sales numbers as the USD bulls stormed their way higher against the Kiwi. NZD/USD remains pressured on the back of lower inflationary pressures and steady growth prospects.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7771 (50-DMA) and above which it could extend gains to 0.7810 (100-DMA) levels. To the downside, immediate support might be located at 0.7701 (Jan 15 Low) levels and below that at 0.7688 (Jan 14 Low) levels.