NZD/USD is trading at 0.6575, up 0.2% on a day, as the kiwi tries to better the 0.6585/0.6601 area, above which lies the mid-January high at 0.6666, Commerzbank’s Axel Rudolph reports.
Key quotes
“NZD/USD is heading back up towards the June and current July highs at 0.6586/0.6601, a rise above which would target the mid-January high at 0.6666. Further up sits the December peak at 0.6756.”
“Overall upside pressure should be maintained while the cross remains above the June 22 low at 0.6374. Above it is a three month support line at 0.6520 and also sits the March spike high at 0.6443. Below 0.6374 the 200- and 55-day moving averages and the March-to-July support line can be spotted at 0.6348/08. Below the 55-day moving average at 0.6308 solid support can be seen between the April and previous May highs at 0.6176/31.”
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