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25 Feb 2015
NZD/USD pressing against 0.7560 after NZ trade balance
FXStreet (Bali) - NZD/USD found demand to trade up towards 0.7760 in early Asia with the NZ trade balance beating expectations in January, with a reduction of imports main contributor to the positive numbers.
New Zeland Trade balance for January came at 56m vs -158m expected and -159m prior, with exports at 3.70bn vs 3.73bn exp and 4.42bn prior, while imports were 3.64m vs 3.94bn exp and 4.58bn prior.
Technically, Jim Langlands, Founder at FXCharts, notes: "The short term indicators still look supportive, as do the dailies, so further advances cannot be ruled out, which would take the Kiwi beyond today’s high and on towards the trend high at 0.7573. Above this, the Kiwi could then advance to the 22 Jan high at 0.7582, ahead of 0.7600..."
New Zeland Trade balance for January came at 56m vs -158m expected and -159m prior, with exports at 3.70bn vs 3.73bn exp and 4.42bn prior, while imports were 3.64m vs 3.94bn exp and 4.58bn prior.
Technically, Jim Langlands, Founder at FXCharts, notes: "The short term indicators still look supportive, as do the dailies, so further advances cannot be ruled out, which would take the Kiwi beyond today’s high and on towards the trend high at 0.7573. Above this, the Kiwi could then advance to the 22 Jan high at 0.7582, ahead of 0.7600..."