OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD: Bulls tighten grip, tests 0.6450

FXStreet (Mumbai) - The Kiwi bulls seem unstoppable and keep pushing higher, driving NZD/USD to fresh two-week highs at the mid-point of 0.64 handle.

NZD/USD extends beyond 0.6400

Currently, the NZD/USD pair trades 0.62% higher at 0.6438, having faced rejected at 0.6450 – fresh two-week highs. The Kiwi continues to climb higher, underpinned by a solid rebound in base metal and oil prices.

Moreover, a slight retreat in the US dollar against its major peers and the latest upbeat China’s PMI reports also support the robust recovery in the Antipodean.
The NZD/USD pair will be now influenced by the US manufacturing data due later in the NY session and Friday’s key labour market report.

NZD/USD Levels to consider

To the upside, the next resistance is located at 0.6450 (Today’s High) levels and above which it could extend gains to 0.6482 (Aug 31 High) levels. To the downside immediate support might be located at 0.6388 (Today’s Low) below that 0.6332 (Sept 30 Low).

Spain 10-y Obligaciones Auction declined to 1.84% from previous 2.15%

Spain 10-y Obligaciones Auction declined to 1.84% from previous 2.15%
Read more Previous

GBP: Narrower current account deficit and stronger growth comes to rescue - MUFG

Lee Halpenny, Currency Strategist at MUFG, suggests that the UK pound has underperformed during the current period of heightened risk aversion which has pushed it lower than justified by relative economic fundamentals in our view but the recently released stronger GDP data and narrower current account deficit are likely to support the GBP.
Read more Next
Start livechat