18 Jun 2014
NZD/USD worst performer of G10’s
FXStreet (Guatemala) - NZD/USD is trading at 0.8653, down -0.03% on the day, having posted a daily high at 0.8661 and low at 0.8652.
New Zealand's current account balance came at +$1.4 billion in the first quarter of 2014, in line with estimates. Meanwhile, NZD/USD has been attempting to keep the bears at bay but, as Raiko Shareef, Currency Strategist at BNZ, noted NZD has been the worst performing G10 currency in the past month, with the sharp fall in dairy prices and attendant decline in New Zealand’s Terms of Trade since the start of February a key fundamental driver of the fall. “The break below 0.85 on NZD/USD have proved to be technical triggers for extension of NZD losses”.
NZD/USD Levels
Current price is 0.8656, with resistance ahead at 0.8659 (Hourly 20 EMA), (Daily Open), 0.8660 (Hourly 100 SMA), 0.8661 (Daily High) and 0.8678 (Daily Classic PP). Next support to the downside can be found at 0.8656 (Daily Classic S1), 0.8652 (Daily Low), 0.8641 (Yesterday's Low), 0.8636 (Daily Classic S2) and 0.8618 (Weekly Classic PP).
New Zealand's current account balance came at +$1.4 billion in the first quarter of 2014, in line with estimates. Meanwhile, NZD/USD has been attempting to keep the bears at bay but, as Raiko Shareef, Currency Strategist at BNZ, noted NZD has been the worst performing G10 currency in the past month, with the sharp fall in dairy prices and attendant decline in New Zealand’s Terms of Trade since the start of February a key fundamental driver of the fall. “The break below 0.85 on NZD/USD have proved to be technical triggers for extension of NZD losses”.
NZD/USD Levels
Current price is 0.8656, with resistance ahead at 0.8659 (Hourly 20 EMA), (Daily Open), 0.8660 (Hourly 100 SMA), 0.8661 (Daily High) and 0.8678 (Daily Classic PP). Next support to the downside can be found at 0.8656 (Daily Classic S1), 0.8652 (Daily Low), 0.8641 (Yesterday's Low), 0.8636 (Daily Classic S2) and 0.8618 (Weekly Classic PP).