NZD/USD extended its upward trajectory in the European session, largely backed by chart-driven gains as a bounce-back in the Aussie further accelerated the gains.
Sustains above 0.7400 levels
Currently, the NZD/USD traded 0.69% higher on the day at 0.7413, retracing from previously posted day’s high at 0.7421 levels. The New Zealand dollar jumped against its US counterpart as heavy bids for the pair are seen above 0.7400 levels until the next resistance at 0.7450 levels is reached. The pair also gained on the back rising precious metals and oil prices which supported the resource-dependent kiwi.
Meanwhile, the pair is likely to remain lifted ahead of no significant data releases later in the day.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7450 and above which it could extend gains to 0.7497 levels. To the downside, immediate support might be located at 0.7333 levels and below that at 0.7300 levels.
Sustains above 0.7400 levels
Currently, the NZD/USD traded 0.69% higher on the day at 0.7413, retracing from previously posted day’s high at 0.7421 levels. The New Zealand dollar jumped against its US counterpart as heavy bids for the pair are seen above 0.7400 levels until the next resistance at 0.7450 levels is reached. The pair also gained on the back rising precious metals and oil prices which supported the resource-dependent kiwi.
Meanwhile, the pair is likely to remain lifted ahead of no significant data releases later in the day.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7450 and above which it could extend gains to 0.7497 levels. To the downside, immediate support might be located at 0.7333 levels and below that at 0.7300 levels.
