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16 Mar 2015
NZD/USD hits fresh highs but fails to hold above 0.7400
FXStreet (Córdoba) - The NZD/USD pair managed to break above 0.7380 during the US session and climbed to 0.7408 reaching a fresh daily high. From the highs it pulled back below 0.7400 and currently trades at 0.7390, up 65 pips from last week closing price.
NZD/USD testing Friday’s highs
The pair was unable to break Friday’s highs that lie around 0.7410, above here the next resistance is located at 0.7445/50 (Mar 12 high, Mar 5 low). On the downside, support might lie at 0.7375 (intraday level), 0.7345 and 0.7310/15 (Mar 13, 16 lows).
The kiwi continues to move with an upside bias in the short term recovering from 0.7185 (Mar 11 low), but the main trend continues to favor the US dollar.
NZD/USD testing Friday’s highs
The pair was unable to break Friday’s highs that lie around 0.7410, above here the next resistance is located at 0.7445/50 (Mar 12 high, Mar 5 low). On the downside, support might lie at 0.7375 (intraday level), 0.7345 and 0.7310/15 (Mar 13, 16 lows).
The kiwi continues to move with an upside bias in the short term recovering from 0.7185 (Mar 11 low), but the main trend continues to favor the US dollar.