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25 Apr 2013
Forex: NZD/USD shoots above 0.85 on USD weakness
FXstreet.com (Barcelona) - NZD/USD has broken to fresh weekly highs last at 0.8530 on thin Asian markets as New Zealand and Australia are both closed for holidays. The pair is up +1.38% for the week, following yesterday's RBNZ rate statement leaving interest rates on hold for the rest of 2013, the central bank said.
Current NZD/USD move higher comes on the back of a broad USD sell-off, coupled with Gold also rallying to fresh weekly highs above the $1440 mark, and Oil printing fresh 2-week highs above the $91 handle. Tomorrow's NZ trade balance at 22:45 GMT is next big risk event ahead for the Kiwi.
Immediate resistance to the upside for NZD/USD shows at April 12 lows 0.8545, followed by April 15 highs at 0.8593, and April 12 highs at 0.8607. To the downside, closest support lies at April 17 highs at 0.8511, followed by April 19/yesterday's highs at 0.8490 and Tuesday's highs at 0.8465.
Current NZD/USD move higher comes on the back of a broad USD sell-off, coupled with Gold also rallying to fresh weekly highs above the $1440 mark, and Oil printing fresh 2-week highs above the $91 handle. Tomorrow's NZ trade balance at 22:45 GMT is next big risk event ahead for the Kiwi.
Immediate resistance to the upside for NZD/USD shows at April 12 lows 0.8545, followed by April 15 highs at 0.8593, and April 12 highs at 0.8607. To the downside, closest support lies at April 17 highs at 0.8511, followed by April 19/yesterday's highs at 0.8490 and Tuesday's highs at 0.8465.