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1 Apr 2015
NZD/USD sinks on RBNZ intervention chatter
FXStreet (Mumbai) - NZD/USD plunged nearly a per cent, breaking below 0.74 handle in the European session, as rumours are doing rounds that the Reserve Bank of New Zealand (RBNZ) may have intervened in March to weaken the domestic currency.
NZD/USD regains 0.74
Currently, the NZD/USD pair trades at 0.7409, down -0.82%, bouncing off a brief dip below 0.74 at 0.7392. NZD/USD accelerated losses this session after RBNZ’s intervention was suspected in March to sell NZD when the kiwi was supported above 0.76 barrier.
Moreover, NZD/USD also remains subdued tracking losses from the Aussie and a strong reversal seen in the US dollar against its major counterparts. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies climbs 0.14% at 98.83.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7491 (Today’s High) levels and above which it could extend gains to 0.7516 (5-DMA) levels. To the downside immediate support might be located at 0.7369 levels below that at 0.7320 levels.
NZD/USD regains 0.74
Currently, the NZD/USD pair trades at 0.7409, down -0.82%, bouncing off a brief dip below 0.74 at 0.7392. NZD/USD accelerated losses this session after RBNZ’s intervention was suspected in March to sell NZD when the kiwi was supported above 0.76 barrier.
Moreover, NZD/USD also remains subdued tracking losses from the Aussie and a strong reversal seen in the US dollar against its major counterparts. The US dollar index which measures the relative strength of the greenback against a basket of six major currencies climbs 0.14% at 98.83.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.7491 (Today’s High) levels and above which it could extend gains to 0.7516 (5-DMA) levels. To the downside immediate support might be located at 0.7369 levels below that at 0.7320 levels.