Chart: WorldWideMarkets Alpha Trader
New Zealand Dollar made extended gains in Europe to test 0.7600 from the intraday support of 0.7540. The New Zealand dollar rose in tandem with the Australian Dollar which was well bid after the better than expected year-on-year 4th QTR Australian GDP data of 2.5% from 2.4%.
The Kiwi Dollar also gained ground against the Australian Dollar cross rate. AUD/NZD fell frp, 1.0355 to 1.0320 in European trading.
The Reserve Bank of New Zealand meets next week. Analysts expect the central bank to keep their Cash Rate unchanged at 3.50%.
Fibonacci near term: 0.7580 (38.2%), 0.7575 (50.0%), 0.7568 (61.8%)
Support: 0.7540, 0.7530, 0.7510, 0.7500
Resistance: 0.7610, 0.7618, 0.7625, 0.7650