Forex: NZD/USD jumps above 0.85 on NZ trade balance

FXstreet.com (Barcelona) - NZD/USD is last at 0.8513, off recent session lows at 0.8487, following better than expected NZ trade balance, coming in at +718M vs +470M expected, mostly due to bigger exports than imports. The pair has reacted to the upside on the news, printing fresh session highs at 0.8527.

NZD/USD had eased from yesterday's fresh 8-day highs at 0.8564 printed in late London trade, following yesterday's NZ being closed for holiday along with Australia. The pair is 100 pips higher so far for the week or a +1.29% gain, ahead of key risk event of the day in the form of BoJ rate statement expected from 02:00 GMT on.

Immediate resistance to the upside for NZD/USD shows at mentioned recent session highs 0.8527, followed by yesterday's fresh 8-day highs at 0.8564, and April 15 highs at 0.8594. To the downside, closest support lies at recent session lows/Wednesday's highs 0.8490, followed by yesterday's Asian session lows/Monday's/Tuesday's highs at 0.8460, and Monday's lows at 0.8393.

Apr 26, 2013

Commodities Brief: Counter trend rally in precious metals or new trend being established?

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