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23 Jan 2015
NZD/USD holds above 0.75 handle
FXStreet (Mumbai) - The New Zealand dollar rebounded against the US dollar in the Asian morning, after falling to fresh two and a half year lows in the previous session.
Currently, the NZD/USD traded at 0.7518, up 0.18% on the day, managing to hold the 0.75 barrier. The Kiwi pair edged higher as traders took to profit booking after the recent weakness in the pair. Moreover, slightly upbeat Chinese factory gauge data also supported the upside in NZD/USD. China manufacturing PMI inched up to 49.8 in January from December’s 49.6, beating market expectations of 49.6.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7584 and above which it could extend gains to 0.7600 levels. To the downside, immediate support might be located at 0.7500 levels and below that at 0.7476 levels.
Currently, the NZD/USD traded at 0.7518, up 0.18% on the day, managing to hold the 0.75 barrier. The Kiwi pair edged higher as traders took to profit booking after the recent weakness in the pair. Moreover, slightly upbeat Chinese factory gauge data also supported the upside in NZD/USD. China manufacturing PMI inched up to 49.8 in January from December’s 49.6, beating market expectations of 49.6.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7584 and above which it could extend gains to 0.7600 levels. To the downside, immediate support might be located at 0.7500 levels and below that at 0.7476 levels.