9 Mar 2015
NZD/USD falls to fresh monthly lows at 0.7339
FXStreet (Mumbai) - NZD/USD extended losses for the third straight session and dropped to fresh one-month lows in the Asian session as increasing the probability of an earlier US rate lift-off after solid US jobs data continues to boost the US dollar, dragging the Kiwi lower.
NZD/USD rejected at 0.74 barrier
Currently, the NZD/USD pair trades -0.24% lower at 0.7344 levels, hovering close to fresh one-month lows reached at 0.7339 levels an hour ago. NZD/USD extended its drop from the Friday’s North American session; having witnessed a massive dive of over 200 points for the pair after US employment numbers boosted the US dollar across the board to fresh multi-year highs. Moreover, China’s GDP forecast downgrade and latest moves by RBNZ continues to keep the gains in the Kiwi at bay.
Meanwhile, traders now shift their attention towards RBNZ’s Cash rate announcement due later in the week amid lack of significant US macro data in the day ahead.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7400 levels and above which it could extend gains to 0.7430 (Feb 5 High) levels. To the downside immediate support might be located at 0.7312 (Feb 12 Low) levels below that at 0.7288 (Feb 4 Low) levels
NZD/USD rejected at 0.74 barrier
Currently, the NZD/USD pair trades -0.24% lower at 0.7344 levels, hovering close to fresh one-month lows reached at 0.7339 levels an hour ago. NZD/USD extended its drop from the Friday’s North American session; having witnessed a massive dive of over 200 points for the pair after US employment numbers boosted the US dollar across the board to fresh multi-year highs. Moreover, China’s GDP forecast downgrade and latest moves by RBNZ continues to keep the gains in the Kiwi at bay.
Meanwhile, traders now shift their attention towards RBNZ’s Cash rate announcement due later in the week amid lack of significant US macro data in the day ahead.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7400 levels and above which it could extend gains to 0.7430 (Feb 5 High) levels. To the downside immediate support might be located at 0.7312 (Feb 12 Low) levels below that at 0.7288 (Feb 4 Low) levels