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NZD/USD regains 0.7500

FXStreet (Mumbai) - The New Zealand dollar accelerated losses against the US dollar during the European session, largely on the back of a tumbling Aussie after the US dollar regained footing across the board.

NZD/USD rises from 0.7487 levels

Currently, the NZD/USD trades lower by -0.32% on the day at 0.7502, having previously posted fresh session lows at 0.7487 levels. NZD/USD fell on a stronger greenback with losses in the Oz neighbour also dragged the New Zealand dollar further into red.

NZD/USD is likely to remain pressured ahead of US existing home sales data due later today and Fed Chair Yellen’s testimony due tomorrow for further hints on the future course of Fed’s monetary policy path.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.7521 (5-DMA) levels and above which it could extend gains to 0.7567 950-DMA) levels. To the downside immediate support might be located at 0.7429 (20-DMA) levels below that at 0.7400 levels.

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