Back
26 Aug 2014
NZD/USD extending the downside
FXStreet (Guatemala) - NZD/USD is trading at 0.8323, down -0.22% on the day, having posted a daily high at 0.8349 and low at 0.8314.
NZD/USD has been the weakest of the G10’s and the downside is extended post poor numbers from New Zealand's trade balance. On top of this, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman suggests that the week ahead will be supportive US economic strength. Meanwhile, the RBNZ is still very much in the minds of traders in respect to their own position with the bird and intervention has been on their lips in recent commentary.
NZD/USD levels
With spot trading at 0.8325, we can see next resistance ahead at 0.8333 (Daily Classic S3), 0.8336 and 0.8343. Support below can be found at 0.8314 (Daily Low), 0.8265 (Weekly Classic S2), 0.8182 (Weekly Classic S3), 0.8082 (YTD Low) and 0.7723 (Annual Low).
NZD/USD has been the weakest of the G10’s and the downside is extended post poor numbers from New Zealand's trade balance. On top of this, Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman suggests that the week ahead will be supportive US economic strength. Meanwhile, the RBNZ is still very much in the minds of traders in respect to their own position with the bird and intervention has been on their lips in recent commentary.
NZD/USD levels
With spot trading at 0.8325, we can see next resistance ahead at 0.8333 (Daily Classic S3), 0.8336 and 0.8343. Support below can be found at 0.8314 (Daily Low), 0.8265 (Weekly Classic S2), 0.8182 (Weekly Classic S3), 0.8082 (YTD Low) and 0.7723 (Annual Low).