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5 Feb 2015
NZD/USD on its way to 0.7400
FXStreet (Mumbai) - NZD/USD continued its upward trajectory in the mid-Asian session, having closed flattish in the previous session, little affected by the bullish US services report.
Supported by 10-DMA
Currently, the NZD/USD extended gains and trades at 0.7389 levels, up 0.29% on the day on its way to retest 0.7400 levels. The kiwi continues its bullish trend, having formed a doji on daily chart in the previous session as the pair continues to remain boosted by RBNZ policy stance. Additionally, Chinese rate cut decision yesterday to spur country’s growth also lifted the kiwi, as China is New Zealand’s top export destination.
Meanwhile, NZD/USD also received support from its OZ counterpart after the Aussie climbed higher upbeat housing data.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7400 and above which it could extend gains to 0.7454 levels. To the downside, immediate support might be located at 0.7342 (10-DMA) levels and below that at 0.7310 levels
Supported by 10-DMA
Currently, the NZD/USD extended gains and trades at 0.7389 levels, up 0.29% on the day on its way to retest 0.7400 levels. The kiwi continues its bullish trend, having formed a doji on daily chart in the previous session as the pair continues to remain boosted by RBNZ policy stance. Additionally, Chinese rate cut decision yesterday to spur country’s growth also lifted the kiwi, as China is New Zealand’s top export destination.
Meanwhile, NZD/USD also received support from its OZ counterpart after the Aussie climbed higher upbeat housing data.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7400 and above which it could extend gains to 0.7454 levels. To the downside, immediate support might be located at 0.7342 (10-DMA) levels and below that at 0.7310 levels