NZD/USD Attempting Gains Above 0.67

NZD/USD Attempting Gains Above 0.67

25 March 2016, 12:26
Roberto Jacobs
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NZD/USD Attempting Gains Above 0.67

Bid tone around Kiwi remains intact amid holiday thinned trading in Europe, with NZD/USD looking to extend gains above 0.67 handle.

Eyes US data

The pair awaits US Q4 final GDP release, which risks being a non-event for the markets, unless it carries significant upward/revision in the GDP and/or core personal consumption expenditure (core pce).

Four-day losing streak in Kiwi came to a halt yesterday after the data in the New Zealand showed a bigger trade surplus than expected in February, as exports were bolstered by a $267 million drilling platform.

NZD/USD Technical Levels

The spot currently trades around 0.7603 with immediate hurdle at 0.67223 (10-DMA), above which the pair may have a re-look at 0.68 handle. On the other hand, a breakdown of 0.6671 (previous day’s low) would expose 0.6636 (100-DMA + 50-DMA).

(Market News Provided by FXstreet)

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