The NZD/USD pair appears to have regained momentum and extends recovery above 0.67 handle, having consolidated below the last since China open.
NZD/USD takes out daily pivot at 0.6704
Currently, the NZD/USD pair trades -0.06% lower at fresh session highs of 0.6719, taking on the recovery from 0.6682 daily lows. NZD/USD caught a fresh bid tone over the last hours and finally broke the consolidation box to the upside as the oil prices moved-off lows and trim gains, thereby offering some support to the resource-linked Kiwi.
Moreover, the pair completely shrugged the ongoing recovery in the greenback against its major competitors and extends higher in a bid to retest fresh four-week highs reached yesterday at 0.6749. Meanwhile, the bird will continue to get influenced by the sentiment around oil and stocks ahead of the much awaited US non-farm payrolls data.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6739/49 (daily high/ Feb 4 High), above which it could extend gains to 0.6763/69 (Jan 5 High/ daily R1) levels. To the downside immediate support might be located at 0.6645/43 (100 & 50-DMA) and from there to 0.6601/00 (200-DMA/ psychological levels).
(Market News Provided by FXstreet)