25 Mar 2015
NZD/USD: Downside revealed on poor trade balance
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7632 with a high of 0.7667 and a low of 0.7624.
NZD/USD was moving to the downside and treading on the 0.7620 supporting territory. The greenback was moving higher overnight in a phase of consolidation as markets digest the recent events and data in respect of the FOMC and outlook.
Meanwhile, the price extended to the downside in Asia on the back of the New Zealand Trade Balance (MoM) that came below expectations at $50M in February from $392M. NZD/USD is technically back below the falling trend line at 0.7660 and that paints a bearish picture that could open up further losses below 0.7600 to 0.75 psychological support.
NZD/USD was moving to the downside and treading on the 0.7620 supporting territory. The greenback was moving higher overnight in a phase of consolidation as markets digest the recent events and data in respect of the FOMC and outlook.
Meanwhile, the price extended to the downside in Asia on the back of the New Zealand Trade Balance (MoM) that came below expectations at $50M in February from $392M. NZD/USD is technically back below the falling trend line at 0.7660 and that paints a bearish picture that could open up further losses below 0.7600 to 0.75 psychological support.