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NZD/USD recovers looses

FXStreet (Mumbai) - The NZD/USD sits at 0.7854, having recovered from the intraday low of 0.7806. The kiwi had come under pressure earlier today due to the broad based dollar strength post Federal Reserve minutes.

The NZD/USD pair traded largely unchanged for the day at the time of writing. The kiwi was hurt by the Fed minutes, which revealed that the policy makers consider US economy quite resilient to the external shocks, although it did not provide any clarity regarding the timing of interest rate hikes. The sentiment was also hit after the release of a weak Chinese flash PMI data.

NZD/USD Technical Levels

The pair has recovered to trade above the 10-SMA level of 0.7851, opening doors for further gains towards the 50-SMA level located at 0.7900. Meanwhile, support is seen at 0.7806 levels.

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