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NZD/USD flirts with 50-DMA

FXStreet (Mumbai) - The New Zealand dollar moved higher against the US dollar, although the pair struggles near the 50-DMA level of 0.7890.

The NZD/USD pair traded 0.07% higher at 0.7887 at the of writing. The pair hit a high of 0.7911 before declining on a broad based dollar strength. Moreover, the pair is struggling to extend gains above the 50-DMA level since Nov. 14. The Kiwi did gain strength on Friday after China announced an interest rate cut for the first time in two years. However, the Kiwi failed to sustain gains above the 50-DMA. The pair may fall into the red, if the official data in the US shows an expansion of the service sector activity in November.

NZD/USD Technical Levels

The pair has an immediate resistance located at 0.7890 (50-DMA), above which the pair can re-test the daily high of 0.7911. Meanwhile, support is seen at 0.7847 and 0.7805 levels.

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