Kiwi trades above 0.6600, jump till 0.67 is possible
NZD has recovered slightly from the low of 0.64970 after the country's PM expressed caution about scale of the currency's recent fall. Kiwi recovered till 0.6605 level.
New Zealand Prime Minister John Key said yesterday that the currency's 25 percent fall over the last year had been faster than expected.
Technically major support is around 0.6540 and any intraday weakness can be seen only below that level. The minor support is at 0.6570 level.
On the higher side minor resistance is around 0.6635 and break above will take the pair further up till 0.6710 in short term.
It is good to buy at dips around 0.6580 with SL around 0.6540 for the TP of 0.6635/0.6700
New Zealand Prime Minister John Key said yesterday that the currency's 25 percent fall over the last year had been faster than expected.
Technically major support is around 0.6540 and any intraday weakness can be seen only below that level. The minor support is at 0.6570 level.
On the higher side minor resistance is around 0.6635 and break above will take the pair further up till 0.6710 in short term.
It is good to buy at dips around 0.6580 with SL around 0.6540 for the TP of 0.6635/0.6700