NZD/USD on daily gains, trading above 0,70

FXStreet — After Reaching the new 2-month high of 0,7090, began the NZD/USD with the correction of the profits, while the trader profit-taking tended. Oktuell the trade with -0,12% held one-day gain in 0,7050.

The Pair fought to a Sustainable movement, but it lacked the support of data. The volume of Trade in the American session was reduced because the US markets due to the Memorial Day remained closed. For the traders it is not easy to keep their positions before tomorrow’s important economic data.

On Tuesday we expect the Fed’s preferred Inflation in the Form of Personal Consumption Expenditures (PCE) Index. In March, the result was year-on-year at 1.6% and if the result shows that the 2% target the Fed moves closer to, then the Chance for a June rising interest-rate increase by the Fed and the Greenback will rise against its rivals, weighing on the NZD/USD.

Observed levels

About 0,7060/70 (61.8% Fibo Retracement of the Jan-Feb rise / 200-day MA), the next Resistances at 0,7100 and 0,7145 (High-2. March). On the other hand, supports at 0.7025 (100-day MA), 0,7950 (50-day MA) and 0.6900 (psych. Level).

** FXStreet News Editorial, FXStreet**

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