During yesterday’s trading session NZD/USD traded within the range of 0.8567-0.8621 and closed at 0.8612.
At 11:27 GMT today NZD/USD was losing 0.22% for the day to trade at 0.8586. The pair touched a daily low at 0.8584 at 11:21 GMT.
Fundamental view
At 14:00 GMT United States’ Census Bureau is to announce the results from the Survey of Construction, regarding sales of new, privately-owned residential buildings currently authorized by a building permit or started in areas not requiring a building permit in February. New home sales in the country probably increased to 0.45 million last month from 0.44 million in February.
A higher-than-expected reading would certainly heighten greenback’s appeal.
Technical view
According to Binary Tribune’s daily analysis, in case NZD/USD manages to breach the first resistance level at 0.8633, it will probably continue up to test 0.8654. In case the second key resistance is broken, the pair will probably attempt to advance to 0.8687.
If NZD/USD manages to breach the first key support at 0.8579, it will probably continue to slide and test 0.8546. With this second key support broken, the movement to the downside will probably continue to 0.8525.
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