20 Mar 2015
NZD/USD extends beyond 0.7450
FXStreet (Mumbai) - NZD/USD continues its upward moves in the European session, holding firmly above 0.74 handle, tracking gains in the Aussie after RBA Stevens pro-exchange rate comments.
NZD/USD supported above 20-DMA
Currently, the NZD/USD pair trades at 0.7446, up 0.42% on the day, having previously posted fresh session highs at 0.7462 couple of hours ago. NZD/USD extended gains as the US dollar seems consolidating previous gains as markets continue to evaluate FOMC statement.
Adding to the gains in Kiwi, the key technical level of 0.74 was broken and stops above this level were hit, pushing the pair around 40 pips higher. Moreover, a set of upbeat NZ data released earlier and a strengthening Australian dollar continues to support NZD/USD.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7500 levels and above which it could extend gains to 0.7545 (March 19 High) levels. To the downside immediate support might be located at 0.7425 (20-DMA) levels below that at 0.7404 (5-DMA) levels
NZD/USD supported above 20-DMA
Currently, the NZD/USD pair trades at 0.7446, up 0.42% on the day, having previously posted fresh session highs at 0.7462 couple of hours ago. NZD/USD extended gains as the US dollar seems consolidating previous gains as markets continue to evaluate FOMC statement.
Adding to the gains in Kiwi, the key technical level of 0.74 was broken and stops above this level were hit, pushing the pair around 40 pips higher. Moreover, a set of upbeat NZ data released earlier and a strengthening Australian dollar continues to support NZD/USD.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7500 levels and above which it could extend gains to 0.7545 (March 19 High) levels. To the downside immediate support might be located at 0.7425 (20-DMA) levels below that at 0.7404 (5-DMA) levels