3 Apr 2015
NZD/USD rises above 0.76
FXStreet (Mumbai) - The NZD/USD pair rose above 0.76 after the data in the US showed the pace of job additions slowed down significantly in March.
Rises to one-week high
The pair rose to a one-week high of 0.7624 after the non-farm payrolls data in the US showed the economy added only 126K jobs in March, which is significantly lower than the consensus estimate of 245K. The previous month’s was also revised lower to 264K from the initial estimate of 295K.
The weak data pushed the USD lower across the board, including the Kiwi. For the time being, the investors have shrugged-off a sharp drop in the latest Fonterra global diary trade price index, which is bearish for the Kiwi.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7662, above which gains could be extended to 0.77 levels. On the flip side, a break below 0.76, could drive the pair lower to its 100-DMA at 0.7565.
Rises to one-week high
The pair rose to a one-week high of 0.7624 after the non-farm payrolls data in the US showed the economy added only 126K jobs in March, which is significantly lower than the consensus estimate of 245K. The previous month’s was also revised lower to 264K from the initial estimate of 295K.
The weak data pushed the USD lower across the board, including the Kiwi. For the time being, the investors have shrugged-off a sharp drop in the latest Fonterra global diary trade price index, which is bearish for the Kiwi.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7662, above which gains could be extended to 0.77 levels. On the flip side, a break below 0.76, could drive the pair lower to its 100-DMA at 0.7565.