25 Jun 2015
NZD/USD wavers around 0.6900
FXStreet (Mumbai) - The New Zealand dollar eased-off highs and trimmed gains versus the American dollar, bringing back NZD/USD around 0.69 handle. The Kiwi struggles to hold gains as the USD bulls jumped back in to bids as traders continue to cheer upbeat final US Q1 GDP estimate released on Wednesday.
NZD/USD retraces from 0.6918 highs
Currently, the NZD/USD pair trades 0.11% higher at 0.6899, extending gains for the second straight session. NZD/USD extends recovery, although gave back partial gains as the US dollar edged slightly higher versus its major competitors. Moreover, a minor recovery seen in oil and prices also supported the upside in the kiwi.
The NZD/USD pair remained buoyed despite in line with expectation US GDP print which boosted the US dollar across the board. While the kiwi grabbed the rare opportunity to move marginally higher amid Greek talks.
The remainder of the week will bring the weekly update of initial jobless claims on Thursday morning along with June's services PMI figure, which is expected to marginally rise to 56.5 points. Meanwhile, the trade balance in New Zealand is anticipated to shrink in May and the University of Michigan (UoM) confidence survey will wrap up the week.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6918 (Today’s High) levels and above which it could extend gains 0.6934 levels. To the downside immediate support might be located at 0.6850 below that at 0.6813 (June 23 Low) levels.
NZD/USD retraces from 0.6918 highs
Currently, the NZD/USD pair trades 0.11% higher at 0.6899, extending gains for the second straight session. NZD/USD extends recovery, although gave back partial gains as the US dollar edged slightly higher versus its major competitors. Moreover, a minor recovery seen in oil and prices also supported the upside in the kiwi.
The NZD/USD pair remained buoyed despite in line with expectation US GDP print which boosted the US dollar across the board. While the kiwi grabbed the rare opportunity to move marginally higher amid Greek talks.
The remainder of the week will bring the weekly update of initial jobless claims on Thursday morning along with June's services PMI figure, which is expected to marginally rise to 56.5 points. Meanwhile, the trade balance in New Zealand is anticipated to shrink in May and the University of Michigan (UoM) confidence survey will wrap up the week.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6918 (Today’s High) levels and above which it could extend gains 0.6934 levels. To the downside immediate support might be located at 0.6850 below that at 0.6813 (June 23 Low) levels.