FXStreet (Guatemala) – NZD/USD is currently trading at 0.6908 with a high of 0.6924 and a low of 0.6877.
NZD/USD has moved in to consolidation from 0.6880 yesterday and after scores on the 069 handle that proved too much too soon for the time being in the minor recovery from 0.6815. Fundamentally however, the RBNZ is likely going to continue to weigh on the currency in terms of a poorer trade outlook and low inflation in the near to medium term. From the calendar, we have the trade balance from NZ later today while the majority of the US data is now done for the week, although markets have been mostly monitoring the risk around Greece where negotiations have hit a brick wall once again.
NZD/USD moves away from 2010 lows
The 0.69 handle is key, and pressures leading in to the close of the week could put the bird in to a bearish situation again for next week’s trade. Meanwhile, for the downside, the June 2010 lows of 0.6793 are of interest to the bears and for the upside, 0.7000 would need to be taken back to alleviate downside pressures to the 0.65 handle.
(Market News Provided by FXstreet)