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5 Jan 2015
NZD/USD moves away from 2-1/2 year lows
FXStreet (Mumbai) - The New Zealand dollar trades lower against the US counterpart in the European morning, pulling away from fresh two and a half year lows reached in the Asian session.
Currently, the NZD/USD trades at 0.7652, down -0.64% on the day, having partially recovered losses after the pair slid to fresh 2-1/2 year lows of 0.7620 earlier in the day. The NZD/USD pair slid after the US dollar opened Monday's session boosted; gaining against all its major peers as looming concerns over upcoming general elections spurred risk-off trading, with investors buying the greenback, US treasuries and gold.
Meanwhile, traders turn their attention towards US economic data releases later in the week, in a bid to seek support for the NZD/USD pair.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7690 (Jan 4 High) and above which it could extend gains to 0.7712 (Dec 8 High) levels. To the downside, immediate support might be located at 0.7620 (Today’s Low) levels and below that at sub 0.76 levels.
Currently, the NZD/USD trades at 0.7652, down -0.64% on the day, having partially recovered losses after the pair slid to fresh 2-1/2 year lows of 0.7620 earlier in the day. The NZD/USD pair slid after the US dollar opened Monday's session boosted; gaining against all its major peers as looming concerns over upcoming general elections spurred risk-off trading, with investors buying the greenback, US treasuries and gold.
Meanwhile, traders turn their attention towards US economic data releases later in the week, in a bid to seek support for the NZD/USD pair.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7690 (Jan 4 High) and above which it could extend gains to 0.7712 (Dec 8 High) levels. To the downside, immediate support might be located at 0.7620 (Today’s Low) levels and below that at sub 0.76 levels.