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NZD/USD sold half a cent in early Asia

FXStreet (Bali) - NZD/USD is off by over half a cent in the early going of the Asian session, with price currently at 0.7715-20 day low, following an open at 0.7765.

There is no specific news hitting the wires that may explain the present heaviness in the Kiwi. Tecnically, the pair is trading just above a key support at 0.77, with sentiment and bias in favour of further losses.

Jim Langlands, Founder at FXCharts, notes: "While the price action could remain choppy above 0.7700 for now, the longer term indicators suggest that we are in for lower levels eventually, and a break of 0.7701 (50% of 0.6560/0.8842) would head to the 24 June 2013 low at 0.7682, below which there is minor support at 0.7660 but realistically there is nothing to hold the Kiwi up until the May 2012 low at 0.7452 and the 61.8 % Fibo support of 0.6560/0.8842 at 0.7430."

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