FXStreet (Córdoba) – NZD/USD reached at 0.6738 the strongest level since July. It remains trading near the 0.6740 area, consolidating gains, headed toward the tenth consecutive daily rise.
So far it has been a day of thin trade and low volatility as markets remain close in the United States. The pair has been moving in a 30 pips range between 0.6739 and 0.6710 since early European session.
Last week had the third weekly gain in a row and the biggest in months. It posted the first weekly close above the 20-SMA since April.
NZD/USD technical levels
To the upside, resistance levels lie at 0.6735/40 (July 29 & Oct 12 high), 0.6775 (July 10 high) and 0.6810 (Jun 23, 26 low). On the opposite direction support could be located at 0.6710 (session low & hourly 20-MA), 0.6670 (daily low) and 0.6645/50 (Oct 7 high).
(Market News Provided by FXstreet)