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29 Dec 2014
NZD/USD trades lower, USD bulls weigh
FXStreet (Mumbai) - The NZD/USD inched down in the Asian morning, trading in a very tight range, locked between 0.7747-0.7768 levels.
The NZD/USD pair trades now at 0.7760 levels, down -0.15% on the day, stuck between 5-DMA and 50-DMA. The New Zealand dollar remains lower against the greenback as the US dollar bulls are expected to be in control in absence of any data from the Kiwi nation and as traders continue echoing upbeat US GDP and labour report released during the last week.
NZD/USD Technical Levels
The pair has an immediate resistance at 0.7778 (Dec 26 High) levels, above which gains could be extended to 0.7804 (Dec 17 High) levels. On the flip side, support is seen at 0.7743 (20-DMA) levels, below which it could extend losses to 0.7695 (Dec 5 Low) levels.
The NZD/USD pair trades now at 0.7760 levels, down -0.15% on the day, stuck between 5-DMA and 50-DMA. The New Zealand dollar remains lower against the greenback as the US dollar bulls are expected to be in control in absence of any data from the Kiwi nation and as traders continue echoing upbeat US GDP and labour report released during the last week.
NZD/USD Technical Levels
The pair has an immediate resistance at 0.7778 (Dec 26 High) levels, above which gains could be extended to 0.7804 (Dec 17 High) levels. On the flip side, support is seen at 0.7743 (20-DMA) levels, below which it could extend losses to 0.7695 (Dec 5 Low) levels.