FXStreet (Mumbai) – The Kiwi bulls seem unstoppable and keep pushing higher, driving NZD/USD to fresh two-week highs at the mid-point of 0.64 handle.
NZD/USD extends beyond 0.6400
Currently, the NZD/USD pair trades 0.62% higher at 0.6438, having faced rejected at 0.6450 – fresh two-week highs. The Kiwi continues to climb higher, underpinned by a solid rebound in base metal and oil prices.
Moreover, a slight retreat in the US dollar against its major peers and the latest upbeat China’s PMI reports also support the robust recovery in the Antipodean.
The NZD/USD pair will be now influenced by the US manufacturing data due later in the NY session and Friday’s key labour market report.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6450 (Today’s High) levels and above which it could extend gains to 0.6482 (Aug 31 High) levels. To the downside immediate support might be located at 0.6388 (Today’s Low) below that 0.6332 (Sept 30 Low).
(Market News Provided by FXstreet)