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NZD/USD consolidates above 0.6900, highest since June

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 30, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    NZD/USD is moving toward daily highs, after moving around 0.6925/30 during the last hours. The pair holds a bullish tone despite US employment data (ADP report) and the interview of Charles Evans, who said that interest rates could move in June if labor data continues to show strong gains.

    The pair started to rise yesterday and accelerated after Janet Yellen speech. It continued to rise during today’s European session and peaked at 0.6965, the strongest level since June 18.

    Currently, it trades at 0.6940/45, up 1.35% for the day and almost 300 pips above last week closing price. The kiwi is the top performer in the currency market so far during the week.

    NZD/USD technical levels

    To the upside, resistance levels might be seen at 0.6965 (daily high), 0.7000 (psychological) and 0.7020/25 (Jun 5 low / June 12 high). On the opposite direction, support could be located at 0.6915 (American session low), 0.6875 (Mar 18 high) and 0.6745 (20-day moving average).

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