NZD/USD: scoring fresh highs on 0.63 handle

FXStreet (Guatemala) - NZD/USD is currently trading at 0.6354 with a high of 0.6361 and a low of 0.6294.

Despite positive data from the US docket today to end the week, NZD/USD remains robust and holds above the 200 SMA on the hourly and trades towards yesterday's highs. The greenback has given back some of the gains across the board while data in PCE and GDP were both beating expectations.GDP Q2 annulized was 3.9% vs 3.7% and Core PCE 1.9% vs 1.8% prev.

Meanwhile, analysts at Westpac Banking Corporation explained, "The two main factors expected to contribute to NZD/USD weakness during the next few months are RBNZ easing (we expect the OCR to fall to 2.5% by year end and eventually to 2.0%) and eventual Fed tightening."

NZD/USD levels

NZD/USD has met supply at the aforementioned highs while RSI (14) reads 61 with MACD turning more positive on the hourly and same time frames. The pivot is 0.6331 and R1 at 0.6400 gaurds 0.6444 and 0.6513. To the downside, supports are 0.6287, 0.6218 and 0.6174.