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21 Apr 2015
NZD/USD rises again toward 0.7700
FXStreet (Córdoba) - NZD/USD is approaching daily highs as the US dollar weakens across the board. The pair peaked earlier at 0.7714 and pulled back, finding support around 0.7665/70, where the hourly 20-SMA currently strands. From there rebounded and climbed back to the 0.7700 area.
NZD/USD consolidates around monthly highs
The kiwi stabilized above 0.7600 after rallying from 0.7400. Last week the pair peaked at 0.7741 (2-month high) but failed to consolidate above 0.7700. The retreated so far found support at 0.7625. NZD/USD still holds a bullish tone on a wider perspective, reaching for the second month in a row higher highs.
A firm break above 0.7700 could trigger a rally while below the key short term support, located around 0.7600, the kiwi would weaken, increasing the probabilities of a bearish correction.
NZD/USD consolidates around monthly highs
The kiwi stabilized above 0.7600 after rallying from 0.7400. Last week the pair peaked at 0.7741 (2-month high) but failed to consolidate above 0.7700. The retreated so far found support at 0.7625. NZD/USD still holds a bullish tone on a wider perspective, reaching for the second month in a row higher highs.
A firm break above 0.7700 could trigger a rally while below the key short term support, located around 0.7600, the kiwi would weaken, increasing the probabilities of a bearish correction.