30 Apr 2015
NZD/USD deep in red near 0.7620
FXStreet (Mumbai) - The New Zealand dollar extends overnight losses versus its American counterpart, sending NZD/USD closer towards 0.76 handle, as traders continue to digest RBNZ’s and FOMC latest policy announcement while upbeat NZ building consents numbers did little to lift the pair.
NZD/USD hovers above 0.76
Currently, the NZD/USD pair trades lower by -0.94% at 0.7614, with little effort to fill in the Asia gap. NZD/USD snapped a 4-day rally and dropped sharply this session largely on NZD sell-off after the Reserve Bank of New Zealand (RBNZ) left interest rates unchanged in early Asia, with the bank doing away with its neutral guidance and left room for further rate cut this year.
Moreover, recovery in the US dollar versus its major peers after FOMC statement was perceived by markets as slightly less dovish with the Fed “reasonably confident that inflation will move back to its 2% objective over the medium term," also added to the losses in the Kiwi.
Meanwhile, markets now turn their focus on a fresh batch of data releases from the US later in the day for further impact on the Kiwi.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7635 (Today’s High) levels and above which it could extend gains to 0.7670 levels. To the downside immediate support might be located at 0.7600 levels below that at 0.7581 (April 27 Low) levels.
NZD/USD hovers above 0.76
Currently, the NZD/USD pair trades lower by -0.94% at 0.7614, with little effort to fill in the Asia gap. NZD/USD snapped a 4-day rally and dropped sharply this session largely on NZD sell-off after the Reserve Bank of New Zealand (RBNZ) left interest rates unchanged in early Asia, with the bank doing away with its neutral guidance and left room for further rate cut this year.
Moreover, recovery in the US dollar versus its major peers after FOMC statement was perceived by markets as slightly less dovish with the Fed “reasonably confident that inflation will move back to its 2% objective over the medium term," also added to the losses in the Kiwi.
Meanwhile, markets now turn their focus on a fresh batch of data releases from the US later in the day for further impact on the Kiwi.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7635 (Today’s High) levels and above which it could extend gains to 0.7670 levels. To the downside immediate support might be located at 0.7600 levels below that at 0.7581 (April 27 Low) levels.