Forex: NZD/USD, 0.84 looms on positive NZ building permits

FXstreet.com (Barcelona) - The steady bids in the Kiwi continue after the NY close, with data on New Zealand building consents, up +9.4% on a monthly basis vs 6% expected, expanding the rally. NZDUSD has printed its new high just shy off 0.84.

However, even if sellers give up the 0.84 inflection point, buyers won't have an easy road ahead as plenty of congestion areas lie just overhead, with Jan 23 lows at 0.8410 the next resistance, followed by an interval of offers clustered all the way up to 0.8435. On the downside, if sentiment holds, dip buyers are likely to be hidden around 0.8380 broken-resistance-turned-support.