FxWirePro: NZD/USD edges higher, return of risk-sentiment weighs on USD
Antipodeans on a firmer footing on Thursday on return of risk-sentiment after China stocks rallied along with other Asian indices. The New Zealand dollar rose to $0.6471 levels, from $0.6430 early, recovering from a drop…
Antipodeans on a firmer footing on Thursday on return of risk-sentiment after China stocks rallied along with other Asian indices.
The New Zealand dollar rose to $0.6471 levels, from $0.6430 early, recovering from a drop to a six-year low of $0.6200 earlier this week.
The pair has given up some of the early gains and is trading at 0.6450, kiwi remains vulnerable to more losses if another bout of market volatility prompts risk-aversion.
Next resistance is located at 0.6517 (Aug 26 High) levels and above which it could extend gains 0.6586 (Aug 17 High) levels.
To the downside immediate support might be located at 0.6431 (Day's Low) below that at 0.6400.
