The NZD/USD pair erased gains as the US dollar is being favored amid Greek debt issue and rising Treasury yields in the US.
Repeated failure at 0.7440 levels
The pair clocked a high of 0.7438 levels earlier today before erasing gains to trade at the current level of 0.7400. This has been the fifth occasion since the beginning of the current month, when the pair faced rejection near 0.7440 levels. Despite the bullish crossover between the 5-DMA and the 10-DMA, the pair struggles to rise above 0.7440.
NZD/USD Technical Levels
The immediate support is seen at the 5-DMA located at 0.7382, under which the pair could test the 10-DMA located at 0.7343. On the flip side, rise above the immediate resistance at 0.7440 could push the pair to 0.7492 (Jan. 28th high).
Repeated failure at 0.7440 levels
The pair clocked a high of 0.7438 levels earlier today before erasing gains to trade at the current level of 0.7400. This has been the fifth occasion since the beginning of the current month, when the pair faced rejection near 0.7440 levels. Despite the bullish crossover between the 5-DMA and the 10-DMA, the pair struggles to rise above 0.7440.
NZD/USD Technical Levels
The immediate support is seen at the 5-DMA located at 0.7382, under which the pair could test the 10-DMA located at 0.7343. On the flip side, rise above the immediate resistance at 0.7440 could push the pair to 0.7492 (Jan. 28th high).
