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26 Jan 2015
NZD/USD posts fresh session highs
FXStreet (Mumbai) - NZD/USD rebounded from fresh two and a half year lows against the US dollar as the greenback weakened across the board, halting its long stretch of gains.
Currently, the NZD/USD traded at 0.7464, up 0.22% on the day, having posted fresh daily highs at 0.7469 few minutes ago. NZD/USD reversed previous losses and edged higher, despite all the major commodities, such as gold, oil and copper, trading in negative territory. However, the gains in the Kiwi pair are likely to be short-lived as the USD bulls are expected to jump back in to the bids ahead of Wednesday's Federal Open Market Committee meeting, which is expected to keep its slightly hawkish stance.
Meanwhile, the NZD/USD pair may also remain pressured ahead of Reserve Bank of New Zealand (RBNZ) cash rate announcement later this week.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7500 and above which it could extend gains to 0.7533 levels. To the downside, immediate support might be located at 0.7416 levels and below that at 0.7400 levels
Currently, the NZD/USD traded at 0.7464, up 0.22% on the day, having posted fresh daily highs at 0.7469 few minutes ago. NZD/USD reversed previous losses and edged higher, despite all the major commodities, such as gold, oil and copper, trading in negative territory. However, the gains in the Kiwi pair are likely to be short-lived as the USD bulls are expected to jump back in to the bids ahead of Wednesday's Federal Open Market Committee meeting, which is expected to keep its slightly hawkish stance.
Meanwhile, the NZD/USD pair may also remain pressured ahead of Reserve Bank of New Zealand (RBNZ) cash rate announcement later this week.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7500 and above which it could extend gains to 0.7533 levels. To the downside, immediate support might be located at 0.7416 levels and below that at 0.7400 levels