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27 Mar 2015
NZD/USD extends losses below 0.76
FXStreet (Mumbai) - NZD/USD erased overnight gains and edged lower in the mid-Asian session, extending its descent for the fourth day in a row, largely tracking losses in the Australian dollar and also on a broad USD strength.
NZD/USD rejected at 0.76
Currently, the NZD/USD pair trades at 0.7580, down -0.26`%, having previously posted fresh session lows at 0.7567 levels. NZD/USD was offered this session mainly mirroring the downtrend in its OZ counterpart after Chinese data revealed that the country’s industrial profits (yoy) for February dropped 4.2% versus a decline of 8.0% in January. China is the top trading partner for both the Antipodes.
Moreover, losses in NZD/USD were accelerated as the US dollar continues to ride higher versus its major peers on yesterday’s upbeat US macro data. Meanwhile, traders eye the crucial US GDP numbers, in absence of any NZD data in the day ahead for further dollar moves.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7600 levels and above which it could extend gains to 0.7693 (March 25 High) levels. To the downside immediate support might be located at 0.7551 (March 26 Low) levels below that at 0.7520 levels.
NZD/USD rejected at 0.76
Currently, the NZD/USD pair trades at 0.7580, down -0.26`%, having previously posted fresh session lows at 0.7567 levels. NZD/USD was offered this session mainly mirroring the downtrend in its OZ counterpart after Chinese data revealed that the country’s industrial profits (yoy) for February dropped 4.2% versus a decline of 8.0% in January. China is the top trading partner for both the Antipodes.
Moreover, losses in NZD/USD were accelerated as the US dollar continues to ride higher versus its major peers on yesterday’s upbeat US macro data. Meanwhile, traders eye the crucial US GDP numbers, in absence of any NZD data in the day ahead for further dollar moves.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7600 levels and above which it could extend gains to 0.7693 (March 25 High) levels. To the downside immediate support might be located at 0.7551 (March 26 Low) levels below that at 0.7520 levels.