FXstreet.com (Barcelona) - The NZD/USD has made several brief attempts at recovery after bottoming out at 0.8058 earlier this morning during Asian trading. Since then however, the pair has waxed and waned, before ultimately settling in the region of 0.8066 at the time of writing.
According to Research Analyst Chris Walker at UBS, “Earlier today, the NZ dollar fell on news that dairy-farmer incomes next season would likely be lower than had been previously indicated. What's more, a strong currency was blamed as the main reason for this.”
Despite the admirable effort by the kiwi to pare its losses on the day, the NZD/USD is still netting a loss of -0.25% below. The technical analyst team at Mataf.net identify the next supports at 0.8038, 0.8017, and finally 0.7977. On the uptick, a break above 0.8099 will enable resistance at 0.8139 and 0.8160.
According to Research Analyst Chris Walker at UBS, “Earlier today, the NZ dollar fell on news that dairy-farmer incomes next season would likely be lower than had been previously indicated. What's more, a strong currency was blamed as the main reason for this.”
Despite the admirable effort by the kiwi to pare its losses on the day, the NZD/USD is still netting a loss of -0.25% below. The technical analyst team at Mataf.net identify the next supports at 0.8038, 0.8017, and finally 0.7977. On the uptick, a break above 0.8099 will enable resistance at 0.8139 and 0.8160.
