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20 Apr 2015
NZD/USD strongly bid above 0.77
FXStreet (Mumbai) - NZD/USD trimmed gains and fell to fresh session lows just ahead of 0.77 handle in the European morning, largely on the back of a minor recovery in the greenback extending its choppy trend in a data-light EUR calendar.
NZD/USD supported above 0.7700
Currently, the NZD/USD pair trades 0.30% higher at 0.7710, retracing from session highs at 0.7724. NZD/USD erased partial losses largely on a renewed bid wave caught the US dollar as traders continue to cheer the recently released upbeat US fundamentals.
However, the NZD/USD pair is expected to remain supported backed by China stimulus measures and a major rebound in oil prices which continues to boost the New Zealand dollar. The Kiwi also shrugged off weaker-than-forecast CPI figures released earlier in Asia.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7750 levels and above which it could extend gains to 0.7800 levels. To the downside immediate support might be located at 0.7681 (Today’s Low) levels below that at 0.7650 levels.
NZD/USD supported above 0.7700
Currently, the NZD/USD pair trades 0.30% higher at 0.7710, retracing from session highs at 0.7724. NZD/USD erased partial losses largely on a renewed bid wave caught the US dollar as traders continue to cheer the recently released upbeat US fundamentals.
However, the NZD/USD pair is expected to remain supported backed by China stimulus measures and a major rebound in oil prices which continues to boost the New Zealand dollar. The Kiwi also shrugged off weaker-than-forecast CPI figures released earlier in Asia.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7750 levels and above which it could extend gains to 0.7800 levels. To the downside immediate support might be located at 0.7681 (Today’s Low) levels below that at 0.7650 levels.