NZD/USD consolidates above 0.7400

Matías Salord FXStreet

FXStreet (Córdoba) - The NZD/USD pair has been steady trading above 0.7400 on Friday. During the Asian session climbed to 0.7457 but failed to hold and currently trades at 0.7425, at the same level it closed yesterday.

Once again the pair was unable to consolidate above the 0.7450 area, that is a key short term resistance level. A confirmation on top could open the doors for an extension of the recovery from the multi-year lows that reached last week at 0.7175.

NZD/USD technical levels

To the upside, resistance could be located at 0.7445/50 (daily high), 0.7490 and 0.7515. On the opposite direction support might lie at 0.7410, 0.7380 and 0.7310/15 (Feb 12 low).

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

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