In general, selling pressure around the New Zealand dollar remained unabated. Sellers touched the 0.6900 level yesterday where the major faced further downside pressure and accelerated its decline. Sellers drove the 0.6850 handle in the late NY session, but managed to touch the level only in the night. The spot faced buying rejection and pulled back amid profit-taking after a long decline. The spot recovered to the level 0.6900 during the first part of Wednesday. The resistance stands at 0.6900, the support is at 0.6850.
The selling pressure is strong and it would be no surprise to see NZD/USD probe the 0.6850-0.6800 region in the coming days.