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6 Jan 2015
NZD/USD stuck at 10-DMA
FXStreet (Mumbai) - The NZD/USD pair extended the previous session’s gains today, although the 10-DMA is proving a tough barrier to break through.
The pair now trades 0.63% higher at 0.7734 levels, after having failed to breach the resistance at 10-DMA located at 0.7748 levels. The gains may have been capped as the demand for the greenback continued to be underpinned due to the speculation of a sooner-than-expected policy normalization in the US. Investors also remained cautious amid uncertainty over Greece’s future in the euro zone.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7748 (10-DMA), above which gains could be extended to 0.7788 (50-DMA). Meanwhile, support is seen at 0.77 and 0.7684 levels.
The pair now trades 0.63% higher at 0.7734 levels, after having failed to breach the resistance at 10-DMA located at 0.7748 levels. The gains may have been capped as the demand for the greenback continued to be underpinned due to the speculation of a sooner-than-expected policy normalization in the US. Investors also remained cautious amid uncertainty over Greece’s future in the euro zone.
NZD/USD Technical Levels
The immediate resistance is seen at 0.7748 (10-DMA), above which gains could be extended to 0.7788 (50-DMA). Meanwhile, support is seen at 0.77 and 0.7684 levels.