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Forex: NZD/USD finds support around 0.8300 again

NZD/USD is currently trading at 0.8334, off the 0.8300 round bid line has worked 3 times already in last month as support, coincident today also with current ascending trend line coming from June lows around the 0.7450 level. The pair is down -0.68% since previous Asia-Pacific open yesterday, following worse than expected NZ jobs report, and -1.65% for the week.

Kiwi was unable on Monday to move above the 0.85 round level, topping out at 0.8492 at the very start of the week, highest since mid Dec, being below that ask line since Sept 2011. Today in Asia is a busy day in terms of macro economic data, none directly related with NZ, but with China, Japan and Australia. Japan Current account will be released at 23:50 GMT, followed by RBA monetary policy statement 40 minutes later, FOMC member Evans speaking at 01:00 GMT, and China's CPI at 05:30 GMT while trade balance being tentative.

Immediate support to the downside for NZD/USD lies at recent fresh 6-day low printed in NY session at 0.8296, followed by Jan 30 lows at 0.8293, and Jan 28 lows at 0.8278. To the upside, closest resistance shows at Jan 25 lows 0.8354, followed by Wednesday's lows at 0.8390, and Tuesday's lows at 0.8410.

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