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26 Feb 2015
NZD/USD bounces-off 50-DMA, trades at one-month high
FXStreet (Mumbai) - The NZD/USD pair recovered losses to trade largely unchanged for the day, after having bounced-off from the 50-DMA located at 0.7550 levels.
NZD/USD: Close to a one-month high
The pair is trading close to a one-month high after the release of an upbeat New Zealand trade balance data, that showed a surplus of NZD 56 million in January, compared to the deficit of NZD 195 million in December. Analysts had expected a deficit of NZD 162 million in January.
The pair could be influenced by the release of consumer prices, durable goods and jobless claims data in the US later today. A weak US data could open doors for a further upside in the pair.
NZD/USD Technical Levels
The pair currently trades 0.31% higher at 0.7580. The immediate resistance is seen in the range of 0.7607-07617, above which gains could be extended to 0.7670 (10-DMA). On the flip side, support is seen at 0.7572 (Feb. 18 high) and 0.7551 (50-DMA).
NZD/USD: Close to a one-month high
The pair is trading close to a one-month high after the release of an upbeat New Zealand trade balance data, that showed a surplus of NZD 56 million in January, compared to the deficit of NZD 195 million in December. Analysts had expected a deficit of NZD 162 million in January.
The pair could be influenced by the release of consumer prices, durable goods and jobless claims data in the US later today. A weak US data could open doors for a further upside in the pair.
NZD/USD Technical Levels
The pair currently trades 0.31% higher at 0.7580. The immediate resistance is seen in the range of 0.7607-07617, above which gains could be extended to 0.7670 (10-DMA). On the flip side, support is seen at 0.7572 (Feb. 18 high) and 0.7551 (50-DMA).