28 Apr 2015
NZD/USD consolidates above 0.76
FXStreet (Mubmai) - The New Zealand dollar snapped a 2-day rally and slipped in red versus its American counterpart in the Asian session, taking NZD/USD closer towards 0.76 handle, mainly driven by profit-taking after the recent strength on broad USD weakness.
NZD/USD supported at 5-DMA
Currently, the NZD/USD pair trades lower by -0.21% at 0.7631, retracing from fresh session highs at 0.7641. NZD/USD paused its upbeat momentum and fell in to the negative territory, trading in a narrow range, largely as the traders resorted to profit booking after the recent strength ahead of RBNZ rate decision due on Thursday.
Moreover, markets remain cautious ahead of Fed meeting on Wednesday and RBNZ Rate Statement due on Friday which may have major impacts on the Kiwi.
Meanwhile, the pair is likely to be influenced by US dollar moves on release of a set of US macro data later in the day which may provide fresh incentives.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7647 (10-DMA) levels and above which it could extend gains to 0.7680 levels. To the downside immediate support might be located at 0.7600 levels below that at 0.7581 (April 27 Low) levels.
NZD/USD supported at 5-DMA
Currently, the NZD/USD pair trades lower by -0.21% at 0.7631, retracing from fresh session highs at 0.7641. NZD/USD paused its upbeat momentum and fell in to the negative territory, trading in a narrow range, largely as the traders resorted to profit booking after the recent strength ahead of RBNZ rate decision due on Thursday.
Moreover, markets remain cautious ahead of Fed meeting on Wednesday and RBNZ Rate Statement due on Friday which may have major impacts on the Kiwi.
Meanwhile, the pair is likely to be influenced by US dollar moves on release of a set of US macro data later in the day which may provide fresh incentives.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7647 (10-DMA) levels and above which it could extend gains to 0.7680 levels. To the downside immediate support might be located at 0.7600 levels below that at 0.7581 (April 27 Low) levels.