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24 Dec 2014
NZD/USD stuck at 5-DMA
FXStreet (Mumbai) - The NZD/USD pair advanced today, although gains have been capped near the 5-DMA located at 0.7734 levels.
The pair currently trades 0.25% higher at 0.7730, after having clocked a high of 0.7736. However, the gains could not be sustained above the 5-DMA level of 0.7734. The pair had faced rejection at 5-DMa yesterday post which it extended losses to 0.77 levels. The surprisingly strong US third quarter GDP report pushed the treasury yields higher. However, the slight weakness seen in the US treasury yields today may have pushed the pair higher.
NZD/USD Technical Levels
The pair has an immediate resistance at 0.7734 (5-DMA), above which gains could be extended to 0.7747 (10-DMA). Meanwhile, support is seen at 0.77 and 0.7680 levels.
The pair currently trades 0.25% higher at 0.7730, after having clocked a high of 0.7736. However, the gains could not be sustained above the 5-DMA level of 0.7734. The pair had faced rejection at 5-DMa yesterday post which it extended losses to 0.77 levels. The surprisingly strong US third quarter GDP report pushed the treasury yields higher. However, the slight weakness seen in the US treasury yields today may have pushed the pair higher.
NZD/USD Technical Levels
The pair has an immediate resistance at 0.7734 (5-DMA), above which gains could be extended to 0.7747 (10-DMA). Meanwhile, support is seen at 0.77 and 0.7680 levels.