NZD/USD Hit Fresh Highs Above 0.6900
NZD/USD is rising on Tuesday supported by a weak US dollar that declined across the board after the release of US data.
The pair has been moving with an upside bias since the beginning of the day and peaked recently at 0.6910, surpassing yesterday’s highs. So far it has been unable to hold above 0.6900 and it was trading at 0.6895, up 45 pips from yesterday’s closing price.
Price is recovering after the decline from levels on top of 0.7000 found support around 0.6830/40. Tomorrow volatility in the NZD/USD pair is likely to increase with the Federal Reserve and the Reserve Bank of New Zealand decisions.
NZD/USD levels to watch
Resistance levels might be seen at 0.6910 (daily high), 0.6935 (April 22 high) and 0.6965 (March highs). On the opposite direction, support might be located at 0.6875 (20-hour moving average), 0.6830/35 (weekly low) and 0.6800.