NZD/USD advanced in the Asian trading, wiping out losses from the previous session, despite downbeat Chinese trade data released over the weekend.
Trades above 5-DMA
Currently, the NZD/USD traded 0.12% higher on the day at 0.7371, retracing from previously posted day’s high at 0.7378 levels. The kiwi staged a comeback against the US dollar as traders look forward to major economic releases from New Zealand and the US for fresh cues on the commodity currency. The pair advanced ignoring data over the weekend showing Chinese exports and imports both falling sharply last month.
NZD/USD slumped last week following the Aussie after Reserve Bank of Australia (RBA) unexpectedly cut its benchmark rate 25 basis points to a record low 2.25% on Tuesday.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7400 and above which it could extend gains to 0.7430 levels. To the downside, immediate support might be located at 0.7333 levels and below that at 0.7300 levels
Trades above 5-DMA
Currently, the NZD/USD traded 0.12% higher on the day at 0.7371, retracing from previously posted day’s high at 0.7378 levels. The kiwi staged a comeback against the US dollar as traders look forward to major economic releases from New Zealand and the US for fresh cues on the commodity currency. The pair advanced ignoring data over the weekend showing Chinese exports and imports both falling sharply last month.
NZD/USD slumped last week following the Aussie after Reserve Bank of Australia (RBA) unexpectedly cut its benchmark rate 25 basis points to a record low 2.25% on Tuesday.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7400 and above which it could extend gains to 0.7430 levels. To the downside, immediate support might be located at 0.7333 levels and below that at 0.7300 levels
