Published: Mon, 09 Nov 2009 16:53:00 +0100
Forex: NZD/USD rises to 0.7415, one-week high
FXstreet.com (Córdoba) ? The New Zealand Dollar is rising sharply on Monday. NZD/USD closed Friday below 0.7250 and currently is testing levels on top of 0.7400 and trades 0.88% above today?s opening price. The pair peaked earlier at 0.7417, posting the highest price since October 28. On the upside the next resistance lies at 0.7460. The decision of the G-20 to keep the stimulus and the lack of discussion about the Dollar value helped the New Zealand currency.
James Hyerczyk, analyst at ForexHound.com, comments: ?The NZD USD rallied back to a major 50% price at 0.7358. Gann angle resistance is at .7375. This forms a key resistance cluster. Upside momentum is expected to overtake this zone on its way to the next resistance level at 0.7423.?
By Fxstreet.com
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