FXStreet (Mumbai) – The bid tone on the USD strengthened in the European session on Monday, pushing the NZD/USD back below 0.69 levels.
Rejected at 0.6928
The pair turned lower from the high of 0.6928 as the USD made a broad based recovery even though there was no new fundamental catalyst to explain the action in the USD. Earlier today, the optimism surrounding Greece deal had pushed the NZD/USD pair to a high of 0.6928 levels.
Ahead in the day, the pair could be influenced by the Greece related news and the US housing data. The pair now trades just below 0.69 levels.
NZD/USD Technical Levels
The immediate resistance is located at 0.6941 (June 12 low), above which gains could be extended to 0.7010 (June 17 high). On the flip side, a break below 0.6878 (June 17 low), could open doors for a sell-off to 0.68 levels.
(Market News Provided by FXstreet)