25 May 2015
NZD/USD holds above 0.7300, NZ trade data eyed
FXStreet (Córdoba) - NZD/USD fell to a low of 0.7290 during the Asian session as the greenback extended gains following upbeat CPI figures published on Friday and subsequent comments from Fed’s Yellen, saying a rate hike will likely take place “sometime this year”.
NZD/USD however, managed to recover slightly over the past sessions but the upside was capped by the 0.7315, confining the Kiwi to a phase of consolidation. At time of writing, the pair is trading at 0.7310, little changed on the day.
NZD/USD volatility might pick up during the Asian session, with New Zealand trade balance data due for release.
NZD/USD levels to watch
As for technical levels, NZD/USD could find immediate supports at 0.7292 (daily low), 0.7281 (May 20 low) and 0.7274 (Mar 18 low). On the upside, resistances line up at 0.7315 (daily high), 0.7379 (10-day SMA) and 0.7400 (psychological level).
NZD/USD however, managed to recover slightly over the past sessions but the upside was capped by the 0.7315, confining the Kiwi to a phase of consolidation. At time of writing, the pair is trading at 0.7310, little changed on the day.
NZD/USD volatility might pick up during the Asian session, with New Zealand trade balance data due for release.
NZD/USD levels to watch
As for technical levels, NZD/USD could find immediate supports at 0.7292 (daily low), 0.7281 (May 20 low) and 0.7274 (Mar 18 low). On the upside, resistances line up at 0.7315 (daily high), 0.7379 (10-day SMA) and 0.7400 (psychological level).