Back
4 May 2015
NZD/USD in red near 0.7530
FXStreet (Mumbai) - The New Zealand dollar remains in red against its American counterpart in the European session, keeping NZD/USD in the same range near 0.75 barrier, largely as the pair was rejected at the crucial trend line resistance at 0.7550, unable to confirm the bullish trend.
NZD/USD cautious amidst a busy week
Currently, the NZD/USD pair trades lower by -0.17% at 0.7532, supported above 0.75 handle. NZD/USD extends losses as the New Zealand dollar was sold-off the pair failed to breach a longer-term trend line, canceling the bullish momentum.
Moreover, downbeat China manufacturing PMI reading coupled with strengthening US dollar across the board also continue to remain a drag on NZD/USD.
Meanwhile, markets now turn their focus on a set of major NZ data while Chinese macro data will also be watched for further impact on the Kiwi. Moreover, US NFP data is likely to remain the highlight this week.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7550 levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7500 levels below that at 0.7481 levels.
NZD/USD cautious amidst a busy week
Currently, the NZD/USD pair trades lower by -0.17% at 0.7532, supported above 0.75 handle. NZD/USD extends losses as the New Zealand dollar was sold-off the pair failed to breach a longer-term trend line, canceling the bullish momentum.
Moreover, downbeat China manufacturing PMI reading coupled with strengthening US dollar across the board also continue to remain a drag on NZD/USD.
Meanwhile, markets now turn their focus on a set of major NZ data while Chinese macro data will also be watched for further impact on the Kiwi. Moreover, US NFP data is likely to remain the highlight this week.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7550 levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7500 levels below that at 0.7481 levels.