FXstreet.com (Barcelona) - New Zealand dollar extended on Monday its recovery from Friday's low at 0.7305, breaking above 0.7450 resistance, turned now into support, to reach 0.7525 high, although the pair has been unable to hold above 0.7500 and trades now at 0.7465.
The Pair is going through slight correction,at the moment, with intra-day studies showing signs of weakness, says Liviu Flesar, technical analyst at InnerFX: In case of a deeper correction, stronger support is expected to limit losses into the .7385/00 region. Short-term momentum is bullish while the intra-day studies show minor signs of weakness.
Support levels, according to Flesar, lie at 0.7450, 0.7400 and 0.7385. On the upside, resistance levels are
0.7500/20, 0.7550 and 0.7600.