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24 May 2013
NZD/USD above 0.81 again ahead of NZ Trade balance
FXstreet.com (Barcelona) - NZD/USD is last trading near session lows at 0.8134 off daily highs at 0.8172, printed by early NY trade. The pair is up +0.83% from previous Asia-Pacific open yesterday, and about the same for the week.
The Kiwi has managed to bounce from a fresh 8-month low at 0.8005 posted by early London session, on the back of weak China data coming out yesterday. Today's NZ Trade balance at 22:45 GMT will be key risk event for the currency in this last trading day of the week in the region. According to BNZ analyst Mike Jones, it is still too early to think on a continued USD move higher, leaving room for Kiwi strength in the 0.75-0.85 range for the mid term.
Immediate support to the downside for NZD/USD lies at Tuesday's lows 0.8116, followed by NY session lows at 0.8080, and past Friday's/Wednesday's lows at 0.8055. To the upside, closest resistance shows at recent daily highs/May 14-15 lows 0.8172, followed by Tuesday/Wednesday's weekly highs at 0.8208/14, and May 13 lows at 0.8221.
The Kiwi has managed to bounce from a fresh 8-month low at 0.8005 posted by early London session, on the back of weak China data coming out yesterday. Today's NZ Trade balance at 22:45 GMT will be key risk event for the currency in this last trading day of the week in the region. According to BNZ analyst Mike Jones, it is still too early to think on a continued USD move higher, leaving room for Kiwi strength in the 0.75-0.85 range for the mid term.
Immediate support to the downside for NZD/USD lies at Tuesday's lows 0.8116, followed by NY session lows at 0.8080, and past Friday's/Wednesday's lows at 0.8055. To the upside, closest resistance shows at recent daily highs/May 14-15 lows 0.8172, followed by Tuesday/Wednesday's weekly highs at 0.8208/14, and May 13 lows at 0.8221.