NZD/USD rises to the highest level since the beginning of March, 0.71 in point of view

FXStreet — Although the NZD/USD on Monday, its highest level since the beginning of may in 0,7087 reached, were the total profits made since the investors with the quiet American session, profit-taking tended. The Pair rose on Tuesday and the 0,71 approached. Currently, the trade with 0.5% held one-day gain in 0,7094.

The NZD seems to be the best Performance among the currencies against the Greenback. The driver for the movement of the USD sell-off is because there is no catalyst for the NZD in demand. The daily loss of the US Dollar Index is currently 0.05% for 97,28. The fact of the falling Oil prices and the pressurized raw materials are a burden on the General market mood.

The CME Group FedWatch Tool shows for June, an unchanged probability for a June rate hike, according to the US data were released.

Technical Prospects

Resistances lie at 0,7060 (61.8% Fibo Retracement of the Jan-Feb. Rise), 0,7120 (50% Retracement) and 0,7045 (High-2. March). On the other hand, supports for 0,7025 (100-day MA), 0,7950 (50-day MA) and 0,6900 (psych. Level).

** FXStreet News Editorial, FXStreet**

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