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NZD/USD running out of steam in reocovery mode

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6373 with a high of 0.6391 a low of 0.6294.

NZD/USD has continued its northern trajectory and is finishing the week in positive territory, up from the lows of below the 0.6240 level and scoring aforementioned highs today of 0.6390. while there has been a general recovery in the commodity bloc currencies, the kiwi got a lift earlier in the week on the Fonterra announcements when they set the milk payout 2014/15 at $4.40 and explained that supply is easing, but said a lift in demand is still yet to be seen.

NZD/USD levels

Technically, the MA's are in bullish territory with price above the 200 SMA at 0.6333 with MACD slowing up and RSI (14) at 68 suggesting a possible pause and consolidation while next resistance comes at 0.6422. Support comes at 0.6309, 0.6293 and 0.6277.

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