Back
2 Apr 2015
NZD/USD trades above 50-DMA
FXStreet (Mumbai) - The NZD/USD pair rose above the 50-DMA located at 0.7468 levels on Thursday on the back of a weaker-than-expected US data released in the previous session.
NZD/USD: Gains capped at 5-DMA
The pair appears stuck at the 5-DMA located at 0.7481 levels after having gained almost 60 pips from the low of 0.7423. The sharp fall in the latest global diary trade price index failed to weaken the Kiwi, as markets chose to focus on the weaker-than-expected US data. Consequently, the pair recovered from the low of 0.7390 seen in the previous session to trade at 0.7481 levels at the time of writing.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7509, above which gains could be extended to 0.7542 (10-DMA). On the flip side, a break below 0.7468 (50-DMA) could see the pair re-test the daily low of 0.7423.
NZD/USD: Gains capped at 5-DMA
The pair appears stuck at the 5-DMA located at 0.7481 levels after having gained almost 60 pips from the low of 0.7423. The sharp fall in the latest global diary trade price index failed to weaken the Kiwi, as markets chose to focus on the weaker-than-expected US data. Consequently, the pair recovered from the low of 0.7390 seen in the previous session to trade at 0.7481 levels at the time of writing.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7509, above which gains could be extended to 0.7542 (10-DMA). On the flip side, a break below 0.7468 (50-DMA) could see the pair re-test the daily low of 0.7423.