According to IFR analysts, the pair rejected a long term bullish channel at mentioned 1.5-year highs, “and downside follow through last week suggest a test near 0.8200 is due,” they said, with a “break of confluence of support near 0.8340/60 should accelerate the recent slide,” the analysts conclude. Tomorrow's RBNZ interest rate statement will be biggest risk event for the pair ahead after today's PMI figures.
Immediate support to the downside for NZD/USD lies at Thursday/Friday/yesterday's lows 0.8400/0.8392, followed by April 15 lows at 0.8375, and April 04 lows at 0.8362. To the upside, closest resistance shows at April 08 lows/yesterday's weekly highs 0.8462, followed by Friday's highs at 0.8491, and April 16/17 highs at 0.8512.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.