NZD/USD pressured below the 0.73 handle still

Currently, NZD/USD is trading at 0.7294, down 0.00% on the day, having posted a daily high at 0.7299 and low at 0.7287.

Market wrap: US dollar index up 0.6% - Westpac

NZD/USD is little changed and trading below the 0.73 handle still after the latest NZIER Quarterly Survey of Business Opinion showed how business confidence remained steady in the June quarter. A net 18 percent of businesses expect better economic conditions over the coming months.

Just recently, the previous and solid ANZ Business Confidence was a reminder that the Kiwi deserves respect. " We estimate fair value to be ~0.73. But the tone of US/UK/Europe central banks is changing and that is likely to start favouring the majors," explained analysts at ANZ.  The greenback has been doing some good work in that respect at the start of this week and keeps the bird subdued.

NZD/USD levels

NZD/USD managed a new high last week 0.7344, but shy fell of 0.7374 being the high for 2017. To the downside, 0.7250 area guards 0.7200 guards 0.7145 and a break back below 0.7080/90 are key near-term downside areas. On the wide, the 0.7375 YTD highs are a key target to the upside and to the downside, a break below 0.7080/00 opens 0.6970.