27 Feb 2015
NZD/USD extends beyond 0.7550
FXStreet (Mumbai) - The New Zealand dollar extended gains against the US dollar in the European session, although remains in a narrow range as traders awaited US macro data for fresh cues.
NZD/USD holds above 50-DMA
Currently, the NZD/USD >pair trades higher by 0.29% near session highs at 0.7557 levels having previously posted day’s low at 0.7534 levels. NZD/USD continues to trade in a tight range, underpinned by extended losses in the US dollar versus its major peers.
While, impressive New Zealand’s Business confidence numbers continue to lift market sentiments. Moreover, a solid recovery in the Aussie as well as oil prices also boosted the NZD/USD pair higher.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 levels and above which it could extend gains to 0.7613 levels. To the downside immediate support might be located at 0.7528 (5-DMA) levels below that at 0.7500 levels.
NZD/USD holds above 50-DMA
Currently, the NZD/USD >pair trades higher by 0.29% near session highs at 0.7557 levels having previously posted day’s low at 0.7534 levels. NZD/USD continues to trade in a tight range, underpinned by extended losses in the US dollar versus its major peers.
While, impressive New Zealand’s Business confidence numbers continue to lift market sentiments. Moreover, a solid recovery in the Aussie as well as oil prices also boosted the NZD/USD pair higher.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 levels and above which it could extend gains to 0.7613 levels. To the downside immediate support might be located at 0.7528 (5-DMA) levels below that at 0.7500 levels.