NZD/USD remains firm and threats 0.88 handle

FXStreet (Guatemala) - NZD/USD is trading at 0.8788, up 0.10% on the day, having posted a daily high at 0.8789 and low at 0.8773.

NZD/USD is trading back in the 0.8780’s post an initial dip lower on the release of the trade data. NZD/USD spot is in overbought territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bullish.

NZD/USD Levels

Spot is presently trading at 0.8789, and next resistance can be seen at 0.8795 (Daily Classic R2), 0.8809 (3 Year High) and (5 Year High). Next support to the downside can be found at 0.8788 (Weekly Classic R2), 0.8780 (Daily Open), (Monthly High), (Weekly High) and (Annual High).

NZ trade balance in line with expectations

NZ trade balance (MoM) for the month of May came at $285M vs $300M exp and $534M last, with the annual print coming at $1.37B vs $1.43B exp and $1.19B last. Exports stood at $4.6B vs $4.56B exp and $4.50B last, while imports were $4.32B vs $4.20B exp and $3.96B last.
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