16 Jan 2015
NZD/USD hovers around 100-DMA
FXStreet (Mumbai) - The New Zealand dollar pared previous gains and trades slightly lower against the US counterpart, amid lack of fresh triggers for the currency pair ahead of US CPI data.
Currently, the NZD/USD traded modestly flat at 0.7820 levels, stuck at 100-DMA for a while now. The NZD/USD pair fail to sustain previous gains copying its Aussie partner which is riding high on yesterday’s Aus Jobs data.
The NZD/USD pair seems to be looking for fresh directions from US CPI print due later today. The US inflation is expected to follow the decline in consumer prices, with the nation's CPI expected to print 0.7% on a year-on-year basis, down from last month's 1.3%.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7856 (Today’s High) and above which it could extend gains to 0.7792 (Jan 15 High) levels. To the downside, immediate support might be located at 0.7800 levels and below that at 0.7768 (Dec 30 Low) levels.
Currently, the NZD/USD traded modestly flat at 0.7820 levels, stuck at 100-DMA for a while now. The NZD/USD pair fail to sustain previous gains copying its Aussie partner which is riding high on yesterday’s Aus Jobs data.
The NZD/USD pair seems to be looking for fresh directions from US CPI print due later today. The US inflation is expected to follow the decline in consumer prices, with the nation's CPI expected to print 0.7% on a year-on-year basis, down from last month's 1.3%.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7856 (Today’s High) and above which it could extend gains to 0.7792 (Jan 15 High) levels. To the downside, immediate support might be located at 0.7800 levels and below that at 0.7768 (Dec 30 Low) levels.