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.