Forex: NZD/USD pushing to the upside below 0.8400

FXstreet.com (Barcelona) - NZDUSD is currently trading at 0.8397, off recent fresh 3-week high at 0.8409 printed in early NY trade. Just released New Zealand trade balance figures, slightly worse than expected, had little impact on the pair. The number shows a fourth straight monthly deficit, though it has been slightly improving for last 2 months.

The pair bounced strongly from Wednesday's lows around 0.8349 moments before NY open, printing the new highs within the next 2 hours. As ANZ reports in its morning research note, there's continuous market talk that real money is getting into real assets denominated in NZ dollars, which in their view, is helping to hold the currency strength. Kiwi is by far, strongest currency among majors in last 2 trading days.

Immediate resistance to the upside for Kiwi shows at recent session highs 0.8400, followed by mentioned fresh 3-week NY highs at 0.8410, and Feb/Dec highs at 0.8470. To the downside, closest support lies at Tuesday's highs 0.8380, followed by June 03/overnite lows at 0.8350, and Tuesday's lows at 0.8330.