New Zealand dollar was pushed back to lower levels against the US peer on Monday, as the greenbacks demand was ongoing on expectations that the Federal Reserve Bank will reduce scale of its bond purchases by the end of this year.
NZD/USD fell down to 0.7714 during late Asian trade, currently the session low, after which the cross consolidated at 0.7725, still down by 0.21% for the day. Support was expected at June 21st low, 0.7712, while resistance was to be encountered at June 21st high, 0.7778.
At the same time, Australian dollar hovered near more than two-year lows against the US counterpart on Monday. AUD/USD hit 0.9159 at 6:43 GMT, currently the session low, after which the pair consolidated at 0.9177, sliding by 0.41% for the day. Support was likely at 0.9164, June 20th low and a more than two-year low, while resistance was to be met at 0.9266, the high of June 21st.
US dollar remained predominantly strong against most of its major peers on Monday, as a result of prospects of FED decelerating its Quantitative Easing by the end of 2013 and completely terminating the program in the middle of the next year.
Additionally, market players remained wary after the International Monetary Fund said on Friday, that it would not suspend Greek funding, but Athens was expected to come up with an agreement on its bailout until July. The comments came amid concerns, regarding recent delays in the privatization plan, which Greece approved last year. Such delays could pose a threat to country’s performance on economic reforms.
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