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14 May 2015
NZD/USD gives back gains to below 0.75 handle
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7490 with a high of 0.7572 and a low of 0.7476.
NZD/USD is consolidating the bid tone of late and supply has put the bird back below the 0.75 handle and taken the pair away from yesterday's and overnight highs of 0.7563.
Data for New Zealand arrived better overnight with the business sector in good health still, although lower than the previous reading of 54.5 and came today at 51.8, adding to the bid while the retail sales came along and beat expectations arriving at 2.7% on the quarter.
Technically, NZD/USD has been up to the EMA 100 and was headed towards the EMA 200 on the 4hr charts. Should the currency continue back on the bid, the 0.7580 level comes in as key resistance. To the downside, 0.7420 is a key support level.
NZD/USD is consolidating the bid tone of late and supply has put the bird back below the 0.75 handle and taken the pair away from yesterday's and overnight highs of 0.7563.
Data for New Zealand arrived better overnight with the business sector in good health still, although lower than the previous reading of 54.5 and came today at 51.8, adding to the bid while the retail sales came along and beat expectations arriving at 2.7% on the quarter.
Technically, NZD/USD has been up to the EMA 100 and was headed towards the EMA 200 on the 4hr charts. Should the currency continue back on the bid, the 0.7580 level comes in as key resistance. To the downside, 0.7420 is a key support level.