NZD/USD ignores China data, stays below 0.73

NZD/USD pair remains comatose below 0.73 handle as the hawkish FOMC statement overshadowed upbeat China data.

Trades at one-month high

The spot was last seen trading around 0.7290 which is the highest level since October 4. The currency pair did clock a high of 0.7311 yesterday, but ended the day at 0.7289 levels. Hawkish Fed minutes ensured the broad based USD selling stalled. 

The Caixin China services PMI ticked higher to 52.4 in October from the September figure of 52.0. The October print marked the fastest rise in the activity since March 2013. 

However, the data failed to strengthen the bid tone around the NZD. 

NZD/USD Technical Levels

A break above 0.7326 (July 12 high) would expose resistance at 0.7380 (Sep 22 high) and 0.74 (zero figure). On the other hand, a breakdown of support at 0.7279 (session low) would open doors for a slide to 0.7238 (50-DMA) and 0.72 (zero figure).