3 Dec 2014
NZD/USD falls to 0.7735, minimum since November 11
FXStreet (San Francisco) - The New Zealand Dollar is trading at 3-week lows at 0.7735 against the US Dollar as the pair is under pressure amid a RBNZ statement that said the real effective NZD "exchange rate remains unjustified and unsustainable".
According to RBNZ's Wheeler in his last speech, there is "little the RBNZ can do to sustainably alleviate an overvalued real exchange rate". However, NZD/USD is now trading at 0.7756, down 0.64% on the day, having posted a daily high at 0.7810 and low at 0.7735.
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If the pair extends decline below 0.7735, it will find supports at 0.7710 and 0.7660. To the upside, resistances are at 0.7800, 0.7810 and 0.7835.
According to RBNZ's Wheeler in his last speech, there is "little the RBNZ can do to sustainably alleviate an overvalued real exchange rate". However, NZD/USD is now trading at 0.7756, down 0.64% on the day, having posted a daily high at 0.7810 and low at 0.7735.
NZD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If the pair extends decline below 0.7735, it will find supports at 0.7710 and 0.7660. To the upside, resistances are at 0.7800, 0.7810 and 0.7835.