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15 May 2015
NZD/USD: Consolidating and drifting south
FXStreet (Guatemala) - NZD/USD is currently trading at 0.7492 with a high of 0.7503 and a low of 0.7485.
NZD/USD is drifting to the downside from 0.7565 and through 0.7520 to find support at 0.7485. The price action has been mixed of late with a mixed outlook from the both the US and New Zealand economy.
Both the Fed and RBNZ are data dependent upon their individual policies and neither economy is performing to expectations, while NZ entered 2015 as one of the only other economies besides the US that had been expected to come with a hawkish tone and act upon that tone this year.
However, we are now in neutral or even falling back to a dovish stance while the US has had a series of poor data of late which is pulling June's cards of the table. Meanwhile and technically, should the currency continue back on the bid, the 0.7580 level comes in as key resistance. To the downside, 0.7420 is a key support level.
NZD/USD is drifting to the downside from 0.7565 and through 0.7520 to find support at 0.7485. The price action has been mixed of late with a mixed outlook from the both the US and New Zealand economy.
Both the Fed and RBNZ are data dependent upon their individual policies and neither economy is performing to expectations, while NZ entered 2015 as one of the only other economies besides the US that had been expected to come with a hawkish tone and act upon that tone this year.
However, we are now in neutral or even falling back to a dovish stance while the US has had a series of poor data of late which is pulling June's cards of the table. Meanwhile and technically, should the currency continue back on the bid, the 0.7580 level comes in as key resistance. To the downside, 0.7420 is a key support level.