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Forex - NZD/USD slips lower but losses seen limited

Published 03/26/2015, 03:51 AM
Updated 03/26/2015, 03:51 AM
Kiwi edges down vs. greenback, eyes on U.S. jobless claims

Kiwi edges down vs. greenback, eyes on U.S. jobless claims

Investing.com - The New Zealand dollar slipped lower against its U.S. counterpart on Thursday, but losses were expected to remain limited as the greenback remained under pressure after Wednesday's disappointing U.S. data and markets awaited the weekly report on U.S. jobless claims.

NZD/USD hit 0.7570 during late Asian trade, the pair's lowest since March 23; the pair subsequently consolidated at 0.7593, edging down 0.18%.

The pair was likely to find support at 0.7760, the low of March 23 and resistance at 0.7940, the high of March 24.

The greenback weakened on Wednesday after the U.S. Commerce Department said that total durable goods orders, which include transportation items, declined 1.4% last month, compared to expectations for a gain of 0.4%.

Core durable goods orders, excluding volatile transportation items, inched down 0.4% in February, disappointing forecasts for a 0.3% gain.

The U.S. dollar has come under pressure since the Federal Reserve indicated last week that it may raise interest rates more gradually than markets had expected.

The kiwi was steady against the Australian dollar, with AUD/NZD at 1.0309.

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