NZD/USD keeps hovering around 0.7030 as dairy prices remain steady

NZD/USD continues to hover around 0.7030 consolidating modest gains for the day ahead of the Federal Reserve statement. The pair held around the mentioned area after Fonterra’s auction. The GDT price index was unchanged from the previous auction.

The kiwi did not change against the US dollar but dropped modestly versus other currencies in the market, like the Aussie. AUD/NDZ printed a fresh daily high near 1.0550.

NZD/USD technical levels

The pair is moving sideways around 0.7030, with an immediate relevant support around 0.7010 (American session low / 20-hour moving average) and below here at 0.6960/65 (daily low / June 3 high) and 0.6945 (June 8 low).

On the opposite direction, the pair lost strength near the 0.7050 zone today; a break higher could open the doors for more gains; resistance levels might be seen at 0.7080 (June 13 high) and then at 0.7120 (June 10 high).