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NZD/USD inching higher above 0.7800

FXstreet.com (Barcelona) – The NZD/USD foreign exchange rate is last trading near session session highs at 0.7830 following lower NZ ANZ business confidence than previous lecture, coming out at 48.1 vs 52.8 previous.

NZD/USD on an overall downtrend

According to Chris Tevere, CMT at FOREX.com: “Kiwi is currently approaching long-term channel support drawn from the November 2011 low around 0.7700/20. Should the recent flight-to-safety due to the events in Syria continue, we could see NZDUSD break below this highlighted level of support. Importantly, weekly RSI still remains below the key 60/65 zone, which is indicative of an overall downtrend.”

NZD/USD key technical …read more