FxWirePro: NZD/USD hits fresh multi-week highs at 0.6472, strong Asian equities support
Monday, October 5, 2015 4:48 AM UTC
- NZD/USD sees a small gap up open in Asia at 0.6430, rises higher to hit fresh multi-week highs at 0.6472
- Kiwi bulls remain in charge, the pair extends gains for the fifth straight session on Monday, supported by strong Asian equities
- Asian stock markets kick-started the week on a firmer tone, taking positive cues from the strong Wall Street gains after disappointing US payrolls data
- Greenback also remained pressurised after poor non-farm payrolls on Friday diminished chances of the Fed rate hike this year
- NZD/USD is currently trading at 0.6465 with key resistance zone around 0.6480-0.6490 region, breaks above could see the pair beyond 0.65 barrier
- Next hurdle for the pair is located at 0.6481 (Aug 31 High) and further above at 0.6488 (55 EMA)
- To the downside immediate support might be seen at 0.6430 (50-DMA) below that 0.6407 (Aug 26 Low)