20 Feb 2015
NZD/USD extends gains beyond 0.7500
FXStreet (Mumbai) - The New Zealand dollar remained elevated and added further gains versus the US counterpart during the European session tracing the direction of its Oz counterpart, which was boosted by S&P's AAA rating assurance.
NZD/USD supported above 5-DMA
Currently, the NZD/USD trades higher by 0.27% on the day at 0.7538, having previously posted fresh session highs at 0.7553 levels. NZD/USD extended its long stretch of gains mirroring the uptrend in the Aussie in reaction to S&P Rating agency making clear that there was no near-term risk to Australia’s AAA credit rating. The kiwi remains supported despite a stronger US dollar across the board.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 (50-DMA) levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7525 (5-DMA) levels below that at 0.7500 levels.
NZD/USD supported above 5-DMA
Currently, the NZD/USD trades higher by 0.27% on the day at 0.7538, having previously posted fresh session highs at 0.7553 levels. NZD/USD extended its long stretch of gains mirroring the uptrend in the Aussie in reaction to S&P Rating agency making clear that there was no near-term risk to Australia’s AAA credit rating. The kiwi remains supported despite a stronger US dollar across the board.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7577 (50-DMA) levels and above which it could extend gains to 0.7600 levels. To the downside immediate support might be located at 0.7525 (5-DMA) levels below that at 0.7500 levels.