NZD/USD rises to 0.7325

NZD/USD is rising on Monday amid a broad-based greenback weakness. The pair hit a fresh daily high at 0.7325 and then pulled back modestly. It was trading at 0.7310, 50 pips above Friday’s closing price.

Price action in the currency market remains limited on Monday ahead of the Federal Reserve decision on Wednesday. In New Zealand, the central bank will also announce its decision early on Thursday.

Despite rising against the US dollar, the kiwi is falling for the second day in a row versus the Australia dollar, moving away from 1-year highs that reached last week. AUD/NZD is back up 1.0300, having the best 2-day performance since early August.

NZD/USD technical levels to watch

To the upside immediate resistance is seen around 0.7325-30 (daily high), followed by the 0.7350 area and 0.7380 (Sep 8 low). On the opposite direction, support could be located at 0.7305/10 (intraday up trendline), 0.7250 (daily low) and 0.7215 (50-day moving average).