25 Jun 2015
NZD/USD minor recovery going anywhere?
FXStreet (Guatemala) - NZD/USD is currently trading at 0.6880 with a high of 0.6894 and a low of 0.6880.
NZD/USD has been a better performer across the board since yesterday, although struggled until the US session where it managed to score a high on the 0.69 handle at 0.6907. The price action was swift and supply was just as swift to take the bird back down in to line of the afternoon's former range in the US where bears now take early control in Asia pressuring the currency in to a downside drift.
NZD/USD on Greece...
There is little to trade from domestically in NZ until the NZ trade balance tomorrow, while otherwise US data remains in focus vs a backdrop of the Greek negotiations that are stalling in the middle of the week ahead of the fast approaching deadline of 30th June that the IMF have set. Earlier in the week, EU's Junker said he is confident the process will be finalised this week and, today, IMF's Lagarde explained that she doesn't want a Grexit but say's Greek reform cannot be built on just tax hikes. Finland's finance minister Stubb was more recently reported to say that there is nothing on the table so far and this is going to the wire. NZD may find tough resistance on the back of risk off sentiment while there are plenty of uncertainties around Greece.
NZD/USD moves away from 2010 lows
While trading below the 0.69 handle, bears have the 0.6800 on their map as a psychological target ahead of challenging June 2010 lows of 0.6793. To the upside, 0.7000 would need to be taken back to alleviate downside pressures to the 0.65 handle. Thus the monor recovery has some work to do yet.
NZD/USD has been a better performer across the board since yesterday, although struggled until the US session where it managed to score a high on the 0.69 handle at 0.6907. The price action was swift and supply was just as swift to take the bird back down in to line of the afternoon's former range in the US where bears now take early control in Asia pressuring the currency in to a downside drift.
NZD/USD on Greece...
There is little to trade from domestically in NZ until the NZ trade balance tomorrow, while otherwise US data remains in focus vs a backdrop of the Greek negotiations that are stalling in the middle of the week ahead of the fast approaching deadline of 30th June that the IMF have set. Earlier in the week, EU's Junker said he is confident the process will be finalised this week and, today, IMF's Lagarde explained that she doesn't want a Grexit but say's Greek reform cannot be built on just tax hikes. Finland's finance minister Stubb was more recently reported to say that there is nothing on the table so far and this is going to the wire. NZD may find tough resistance on the back of risk off sentiment while there are plenty of uncertainties around Greece.
NZD/USD moves away from 2010 lows
While trading below the 0.69 handle, bears have the 0.6800 on their map as a psychological target ahead of challenging June 2010 lows of 0.6793. To the upside, 0.7000 would need to be taken back to alleviate downside pressures to the 0.65 handle. Thus the monor recovery has some work to do yet.