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22 Apr 2015
NZD/USD sidelined around 0.7670
FXStreet (Mumbai) - NZD/USD erased gains and fell back in red in the mid-Asian session, reversing a brief spike tracking its OZ neighbour following better than expected Australia’s inflation figures.
NZD/USD witnesses high volatility
Currently, the NZD/USD pair trades flat at 0.7671, having posted day’s highs at 0.7688 and day’s low at 0.7659. NZD/USD continues to oscillate in the 30-pips range after a highly volatile session yesterday mainly driven by US dollar moves amid lack of significant fundamentals.
Earlier this session, the Kiwi spiked to fresh highs correlating its Australian counterpart after a slightly stronger than expected inflation data saw traders reduce their rate-cut bets, boosting the Aussie.
Meanwhile, traders now focus on US existing home sales data due later in the day for fresh direction on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7688 (Today’s High) levels and above which it could extend gains to 0.7700 levels. To the downside immediate support might be located at 0.7632 (April 21 Low) levels below that at 0.7600 levels.
NZD/USD witnesses high volatility
Currently, the NZD/USD pair trades flat at 0.7671, having posted day’s highs at 0.7688 and day’s low at 0.7659. NZD/USD continues to oscillate in the 30-pips range after a highly volatile session yesterday mainly driven by US dollar moves amid lack of significant fundamentals.
Earlier this session, the Kiwi spiked to fresh highs correlating its Australian counterpart after a slightly stronger than expected inflation data saw traders reduce their rate-cut bets, boosting the Aussie.
Meanwhile, traders now focus on US existing home sales data due later in the day for fresh direction on the pair.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7688 (Today’s High) levels and above which it could extend gains to 0.7700 levels. To the downside immediate support might be located at 0.7632 (April 21 Low) levels below that at 0.7600 levels.