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NZD/USD hit hard and twice

FXStreet (Guatemala) - NZD/USD is trading at 0.8321, up 0.08% on the day, having posted a daily high at 0.8324 and low at 0.8315.

NZD/USD has been hit on both sides of the globe. The greenback is on a rampage and meanwhile the Kiwi is suffering on dairy prices. Analysts at TD Securities explained that the ANZ August Commodity Index was –3.3% lower, falling for the 6th month, hitting a 17 month low. “Dairy led the declines dropping to a near 2yr low. The index is now down 7.2%/yr in USD and in NZD terms –12.5%/yr”. They analysts added further that the construction report is out on Wed fleshing out the housing construction cycle. “Ahead of these reports we pencil in +0.6% for Q2 GDP (after four consecutive +1%/qtr GDP reports)”.

NZD/USD hourly levels

With spot trading at 0.8322, we can see next resistance ahead at 0.8330 (Hourly 20 EMA) and 0.8332 (Weekly Low). Support below can be found at 0.8311 (Daily Classic S3) and 0.8292 (Yesterday's Low).

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