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Add as a preferred source on Google FxWirePro: NZD/USD slips below 0.69 handle, falling oil prices weigh NZD/USD surrenders 0.69 handle as weakness across the commodities’ space weighs on the kiwi. Heavy losses in its Oz counterpart post disappointing retail sales data also adds to the weaker tone. Focus on US factories and…
By FxWire Pro Apr 4, 2016, 5:13 AM UTC
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NZD/USD surrenders 0.69 handle as weakness across the commodities’ space weighs on the kiwi.
Heavy losses in its Oz counterpart post disappointing retail sales data also adds to the weaker tone.
Focus on US factories and labour market conditions data due later today, while Tuesday’s GDT price index will also have major influence on the pair.
The pair sees strong trendline support at 0.6871, breaks below could accentuate weakness, test of 0.6840 (Mar 30th lows) then likely.
To the upside, the next resistance is located at 0.6892 (falling trendline), above which it could extend gains to 0.69 (psychological levels).
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