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15 Apr 2015
NZD/USD breaks below 0.75 post RBNZ Spencer speech
FXStreet (Bali) - NZD/USD has broken below 0.75 support area following comments from RBNZ Deputy Governor Spencer.
Spencer refereed to further action needed to reduce housing imbalance in New Zealand, which coupled with the selling pressure hitting the Australian Dollar, has taken the pair to a new day low of 0.7485.
Jim Langlands, Founder at FXCharts, notes: "Nearby support levels to watch, below 0.7500, are at 0.7480 (minor) and 0.7440 (rising trend support). Back below yesterdays low at 0.7421, the 1 April low at 0.7390 will come into view although I doubt we head there today."
Spencer refereed to further action needed to reduce housing imbalance in New Zealand, which coupled with the selling pressure hitting the Australian Dollar, has taken the pair to a new day low of 0.7485.
Jim Langlands, Founder at FXCharts, notes: "Nearby support levels to watch, below 0.7500, are at 0.7480 (minor) and 0.7440 (rising trend support). Back below yesterdays low at 0.7421, the 1 April low at 0.7390 will come into view although I doubt we head there today."