The NZD/USD pair found bids near the 10-DMA at 0.6653 levels in Asia and rose to a high of 0.6698, tracking the oil price advance.
Up for third consecutive session
The spot is now trading higher for the third consecutive session. The Kiwi got a positive rub from the oil prices, which shrugged off bearish US inventories and strengthened in Asia. The pair currently trades around 0.6685 levels; up 0.12% on the day.
The currency pair managed to take out confluence of 5-DMA, 100-DMA and 200-DMA seen around 0.6638 levels. Ahead of the US services PMI data, the spot remains at the mercy of the oil price gyrations.
NZD/USD Technical Levels
The immediate hurdle is seen at 0.67;, which needs to be take out in order to test offers around 0.6730 (23.6% of 0.6263-0.6883). On the lower side, confluence of 5-DMA, 100-DMA and 200-DMA around 0.6638 is a major support, under which the pair could drift lower to 0.66 (psychological level).
(Market News Provided by FXstreet)