, bias still lower - EconoTimes)
The antipodeans struggled to make much headway on Monday on falling equities and persisting risk-off sentiment.
- The New Zealand dollar eased to $0.6364, from $0.6390 late on Friday, having been stuck in a well-defined range of $0.6244 to $0.6458 seen so far this month
- NZD/USD is currently trading near fresh session lows of 0.6367, having taken support at 0.6358 (hourly 100-MA)
- Volumes however remain relatively low as Japanese traders are away on account of a national holiday
- Also undermining sentiment was dairy exporter Fonterra's more than anticipated job cuts, due to a decline in dairy prices
- Focus now on US economic data, including the existing home sales and wholesale inventories, due later in the NA session
- Immediate support for the pair is seen at daily Tenkan by 0.6355, breaks below could see the pair at 0.6242 levels
- On the upside resistance is seen at 0.6385 (4h Tenkan-Sen) ahead of 0.6389 (session highs Sept 21)
