NZD/USD is consolidating gains than 0.69

FXStreet — After a closing price above the psychologically important mark of 0,6900 established the new Zealand Dollar compared to the US Dollar to its yesterday’s gains and reached a new session high at 0,6938. The NZD/USD traded last on 0,6924 and to 0.27 per cent in the Plus.

The currency pair is stuck on Tuesday in a 30 Pips Range, because investors are still looking for a pulse, which could help the Couple for a direction determination. On the international trade platform, Global Dairy Trade, the average rose in price over all products and time periods of 3.6 percent. At the recent auction of milk powder rose to 5.2 per cent. However, the currency pair was able to beat it a profit, as the US Dollar Index at the same time jumped over the 99-point mark. However, based on this movement more on technical than fundamental factors.

The volatility around the currency pair could record in the early Asian business travel — since then the new Zealand labour market data are published. Bank economists expect that the unemployment rate for the first quarter will remain unchanged at 5.2 percent. A rise in labour costs, however, could bring the bulls to life and the Couple as a result of rising inflation expectations spur. The same applies for the opposite scenario.

You might also be interested in:
GDT-price auction better than expected — whole milk powder rises by 5.2%
RBNZ figures are vigilant in terms of Inflation

Technical Outlook

The currency pair hits in 0,6940 (10-day line / day high) resistance. Further barriers are 0,7000 (psychological mark) and 0,7080 (100-day line). Supports on the other hand, 0,6845/50 (month low), 0,6800 (psychological mark) and 0,6705 (Deep 31. To find may).

** FXStreet News Editorial, FXStreet**

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