NZD/USD rises just ahead of 0.74 handle

FXStreet (Mumbai) - NZD/USD added further gains and rose to fresh session highs, breaking above 0.74 handle as traders continued to absorb China's central bank decision and RBNZ Wheeler's speech from the previous session

Hovers around 0.7400

Currently, the NZD/USD extended gains and trades at 0.7397 levels, up 0.41% on the day, having posted day’s low at 0.7342 and fresh day’s high at 0.7404 levels. The kiwi continues its upward trajectory as it receives support from the Australian dollar which climbed higher on upbeat domestic housing data. NZD/USD continues to remain boosted by the Reserve Bank of New Zealand's (RBNZ) policy stance. Additionally, China's rate cut decision yesterday to spur the country’s growth also lifted the kiwi, as China is New Zealand’s top export destination.

Meanwhile, traders now turn their focus on the US employment data for further incentives on the pair.

NZD/USD Technical Levels

To the upside, the next resistance is located at 0.7439 and above which it could extend gains to 0.7454 levels. To the downside, immediate support might be located at 0.7342 (10-DMA) levels and below that at 0.7310 levels