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16 Dec 2014
NZD/USD gains, breaks above 0.78 handle
FXStreet (Mumbai) - The New Zealand dollar advanced against its US counterpart, snapping three days of declines as US dollar bulls took a back seat ahead of Fed’s two-day monetary policy commencing shortly.
The NZD/USD pair trades now at 0.7782 levels, up 0.49% on the day, after posting a fresh daily high of 0.7801 levels. The kiwi climbed higher against the greenback today on broad based US dollar sell-off against major currencies as markets now shift their focus towards US macro data due for release later in the day. The US dollar index, which measures the greenback against a basket of six major currencies, continued its decline from the strongest level since March 2009 to trade at 88.04, down by -0.76%, on the day.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7810 (Dec 3 High), above which it could extend gains to 0.7850 (Dec 12 High) levels. To the downside immediate support might be located at 0.7755 (Dec 14 Low), below that at 0.7727 (Dec 4 Low) levels.
The NZD/USD pair trades now at 0.7782 levels, up 0.49% on the day, after posting a fresh daily high of 0.7801 levels. The kiwi climbed higher against the greenback today on broad based US dollar sell-off against major currencies as markets now shift their focus towards US macro data due for release later in the day. The US dollar index, which measures the greenback against a basket of six major currencies, continued its decline from the strongest level since March 2009 to trade at 88.04, down by -0.76%, on the day.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7810 (Dec 3 High), above which it could extend gains to 0.7850 (Dec 12 High) levels. To the downside immediate support might be located at 0.7755 (Dec 14 Low), below that at 0.7727 (Dec 4 Low) levels.