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16 Mar 2015
NZD/USD extends beyond 0.7370
FXStreet (Mumbai) - NZD/USD climbs higher towards 0.74 handle in the early European morning, extending uptrend from the Asian session, as the greenback is sharply pulling back last week's heavy gains as the markets prepare for Wednesday’s FOMC decision.
NZD/USD on its way to 0.7400
Currently, the NZD/USD pair trades rises 0.42%, at fresh session highs of 0.7378 levels, marching higher from 0.7360 levels. NZD/USD accelerated gains as the US dollar continues its downslide across the board as traders lock-in gains on their USD longs from the previous session. The US dollar rallied to its highest levels in twelve years as traders prepared for a less dovish policy statement from the FOMC.
Meanwhile, NZD/USD is likely to remain supported on a broadly weaker greenback as USD bulls may revise their positions heading into Wednesday's FOMC statement.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7409 (March 13 High) levels and above which it could extend gains to 0.7450 (March 12 High) levels. To the downside immediate support might be located at 0.7350 levels below that at 0.7300 levels.
NZD/USD on its way to 0.7400
Currently, the NZD/USD pair trades rises 0.42%, at fresh session highs of 0.7378 levels, marching higher from 0.7360 levels. NZD/USD accelerated gains as the US dollar continues its downslide across the board as traders lock-in gains on their USD longs from the previous session. The US dollar rallied to its highest levels in twelve years as traders prepared for a less dovish policy statement from the FOMC.
Meanwhile, NZD/USD is likely to remain supported on a broadly weaker greenback as USD bulls may revise their positions heading into Wednesday's FOMC statement.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7409 (March 13 High) levels and above which it could extend gains to 0.7450 (March 12 High) levels. To the downside immediate support might be located at 0.7350 levels below that at 0.7300 levels.