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9 Jan 2015
NZD/USD posts fresh daily highs, faces resistance at 100-DMA
FXStreet (Mumbai) - The New Zealand dollar inched higher against the US counterpart in the Asian morning, extending gains for the fourth straight session, backed by upbeat NZ building consents data.
Currently, the NZD/USD posts fresh intraday high at 0.7839 levels, up 0.15% on the day, where the 100-DMA is located. The NZD/USD pair continues to edge higher as the traders digest the New Zealand’s building consents data which increased to the highest levels in seven years. Building consents rose 10.0% month-on-month in November after climbing a revised 9.8% a month earlier, marking the second-consecutive monthly rise in consents.
Moreover, the NZD/USD pair remains supported from the gains in AUD/USD, ignoring subdued Chinese inflation print.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7855 (Dec 30 High) and above which it could extend gains to 0.79 levels. To the downside, immediate support might be located at 0.7768 (Dec 30 Low) levels and below that at sub 0.7805 (Nov 20 Low) levels.
Currently, the NZD/USD posts fresh intraday high at 0.7839 levels, up 0.15% on the day, where the 100-DMA is located. The NZD/USD pair continues to edge higher as the traders digest the New Zealand’s building consents data which increased to the highest levels in seven years. Building consents rose 10.0% month-on-month in November after climbing a revised 9.8% a month earlier, marking the second-consecutive monthly rise in consents.
Moreover, the NZD/USD pair remains supported from the gains in AUD/USD, ignoring subdued Chinese inflation print.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7855 (Dec 30 High) and above which it could extend gains to 0.79 levels. To the downside, immediate support might be located at 0.7768 (Dec 30 Low) levels and below that at sub 0.7805 (Nov 20 Low) levels.