NZD/USD recovers and rises above 0.6300

By FXStreet FXStreet (Córdoba) – NZD/USD is rising against the US dollar after falling during two days in a row. The pair broke an intraday range and rose above 0.6300, hitting at 0.6330 the strongest level since last Friday.

NZD/USD up on risk appetite

Yesterday it bottomed at 0.6240 and posted the lowest daily close in years at 0.6265/70. Today is attempting to recover ground boosted by a recovery in commodity prices, a weak US dollar and risk appetite. Hopes about more stimulus from China pushed investors toward riskier assets. Kiwi traders are also getting ready for the decision of the Reserve Bank of New Zealand, that will be announced on Wednesday at 21:00 GMT.

NZD/USD technical levels

To the upside, resistance levels could be located at 0.6330 (daily high), 0.6345 and 0.6375 (Sept 2, 3 highs). On the opposite direction, support now might be seen at 0.6265, 0.6240 (Sept 7 low) and 0.6200.
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Source:: FX Street