FXStreet (Mumbai) – The New Zealand dollar keeps losses versus the American dollar in the European morning, pushing NZD/USD to session lows. The Kiwi shed overnight gains and remains in the negative territory on the back of risk-off environment and on a broadly stronger US dollar.
NZD/USD rejected at 0.6897
Currently, the NZD/USD pair trades -0.45% lower at fresh session lows of 0.6876. NZD/USD snapped its recovery from five-year lows and slipped back in red below 0.69 handle as broad based US dollar strength as traders digest a host of economic data from the US released on Thursday.
While, risk-off sentiment spurred by impending Greek and possible Grexit rumours keeps the Kiwi pressured across the board.
NZD/USD erased overnight gains after jumping higher on the release of NZ trade balance data which revealed unexpected expansion of the domestic trade surplus.
In the day ahead, US data will remain the primary driver for the Kiwi pair ahead of the University of Michigan (UoM) confidence survey which will wrap up the week.
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6934 (June 25 High) levels and above which it could extend gains 0.6950 levels. To the downside immediate support might be located at 0.6850 below that at 0.6813 (June 23 Low) levels.
(Market News Provided by FXstreet)