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NZD/USD oscillates with lack of follow through

FXStreet (Guatemala) - NZD/USD is trading at 0.8071, up 0.32%on the day, having posted a daily high at 0.8086 and low at 0.8047.

NZD/USD is mixed on the day so far with firstly Fonterra who had this morning announced it has revised the forecast farmgate milk price for 2014/15 to $5.30 a kg of milk solids from the last forecast at $6.00 a kg and they also increased the dividend forecast to 25c to 35c from 20c to 25c. Most recently released was a set of better than expected trade balance for New Zealand.

NZD/USD hourly levels

Spot is presently trading at 0.8071, and next resistance can be seen at 0.8086 (Hourly 20 EMA) and 0.8122 (Hourly 100 SMA). Next support to the downside can be found at 0.8058 (Weekly Classic S1 and Daily Classic S2).

New Zealand trade balance comes better-than-expected

New Zealand trade balance (MoM) came in at $-472M in August, above expectations of $-1275M, wiih the annual reading also above a forecasts of $1.22B in August, with actual being $2.02B. New Zealand exports were $3.52B vs $3.15B expected, while imports came in at $3.52B vs $4.45B expected.
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