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NZD/USD holds above 0.7700

FXStreet (Córdoba) - NZD/USD bounced from daily lows and trimmed almost completely intraday losses during the European session, but the recovery was short-lived.

NZD/USD found support at the 0.7710 zone and jumped to an hourly high of 0.7746, but the kiwi lacked follow-through despite firm domestic data and continued to track US dollar’s moves. At time of writing, NZD/USD is trading at 0.7730, still 0.2% below its opening price.

New Zealand dollar will likely remain in familiar ranges ahead of the RBNZ Financial Stability Report due out Wednesday.

NZD/USD levels to watch

As for technical levels, NZD/USD could find immediate resistances at 0.7769 (Nov 11 high), 0.7800 (psychological level) and 0.7822 (Nov 10 high. On the flip side, supports are seen at 0.7712 (Nov 11 low), 0.7684 (Nov 5 low) and 0.7660 (2014 low Nov 7).

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