NZD/USD hits 2-week highs above 0.6900
- Kiwi outperforming, holds firms across the board.
- NZD/USD consolidating above 0.6900.
The NZD/USD pair reached at 0.6925 the highest level in two weeks. It was holding on top of 0.6900, consolidating gains even after the USD recovered momentum.
During the last hour the US Dollar Index rose from 92.35 (lowest in two months) to 92.60, erasing most of the day’s losses. Despite the move to the upside, NZD/USD remained on top of 0.6900. At the moment of writing it was trading at 0.6915, up 40 pips from Friday’s close.
A weak US dollar boosted the pair from 0.6850/55 (Asian session low) and then it continued to rise on the back of a stronger kiwi. The New Zealand dollar is rising sharply versus the aussie. AUD/NZD just reached levels under 1.1000, for the fist time in two weeks.
NZD/USD Technical levels
To the upside, resistance levels might be seen at 0.6925 (Nov 27 high), 0.6950 (Nov 3 high) and 0.6980 (Nov high). On the flip side, support could be seen at 0.6900/05 followed by 0.6850 (Nov 27 low) and 0.6835 (Nov 16 low).