NZD/USD: The New Zealand dollar slumped to a 1-1/2 week trough after domestic data showed imports lagged behind $5.20 billion expectations to $4.65 billion, while exports also fell short of $5.29 billion expected to $5.01 billion. Moreover, Reserve Bank of New Zealand’s hint towards likely future use of the unconventional monetary policy tools continued to undermine the bid tone around the major. The Kiwi trades 0.1 percent down at 0.6696, having touched a low of 0.6692 earlier, its lowest level July 15. Investors’ will continue to track broad-based market sentiment, ahead of U.S. economic data.
Immediate resistance is located at 0.6738 (July 16 High), a break above could take it near 0.6823 (Mar. 29 High). On the downside, support is seen at 0.6664 (July 1 Low), a break below could drag it below 0.6619 (July 8 Low).
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