30 Jul 2015
NZD/USD keeps falling, eyes 0.6600
FXStreet (Mumbai) - The offered tone around the NZD/USD pair heightened in the European morning, knocking-off the pair to fresh session lows near 0.66 handle as the US dollar continues to break higher across the board benefitting from the latest FOMC statement.
NZD/USD drops from 0.6637
Currently, the NZD/USD pair trades -0.64% lower at 0.6624, bouncing-off lows at 0.6613. The NZD/USD pair came under renewed selling pressure as European traders brought fresh offers reacting to Wednesday’s FOMC decision which revealed that he US Fed remains on track for hiking rates in 2015 which continues to bolster USD bulls.
Changes to the FOMC statement were fairly minimal, with no clear new signal on when exactly the policy normalization process will begin, but September is still on the table for “lift-off” if the data comes in strong.
Moreover, the pair continues to remain undermined following the latest downbeat building consents data from New Zealand. The Kiwi nation’s residential building consents fell 4.1% in June as construction intentions in Canterbury tapered off, with the region's housing rebuild nearing a plateau.
Later in the session, US GDP figures, weekly jobless claims and goods trade balance data is due to be reported which will have major impact on the US dollar and hence could affect NZD/USD.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6698 (July 23 High) levels and above which it could extend gains 0.6716 (July 28 High). To the downside immediate support might be located at 0.6590 (July 28 Low) below that at 0.6556 (July 27 Low) levels.
NZD/USD drops from 0.6637
Currently, the NZD/USD pair trades -0.64% lower at 0.6624, bouncing-off lows at 0.6613. The NZD/USD pair came under renewed selling pressure as European traders brought fresh offers reacting to Wednesday’s FOMC decision which revealed that he US Fed remains on track for hiking rates in 2015 which continues to bolster USD bulls.
Changes to the FOMC statement were fairly minimal, with no clear new signal on when exactly the policy normalization process will begin, but September is still on the table for “lift-off” if the data comes in strong.
Moreover, the pair continues to remain undermined following the latest downbeat building consents data from New Zealand. The Kiwi nation’s residential building consents fell 4.1% in June as construction intentions in Canterbury tapered off, with the region's housing rebuild nearing a plateau.
Later in the session, US GDP figures, weekly jobless claims and goods trade balance data is due to be reported which will have major impact on the US dollar and hence could affect NZD/USD.
Trade the US GDP data with Bednarik, Pinkert and Carrillo - Live Coverage
NZD/USD Levels to consider
To the upside, the next resistance is located at 0.6698 (July 23 High) levels and above which it could extend gains 0.6716 (July 28 High). To the downside immediate support might be located at 0.6590 (July 28 Low) below that at 0.6556 (July 27 Low) levels.