Forex: NZD/USD testing 2-week lows above 0.8330

FXstreet.com (Barcelona) - NZDUSD is currently selling off to fresh session lows, last at 0.8340, around Friday's lows, and still a bit above Friday session lows in the Asia-Pacific at 0.8320 when the Kiwi plunged after worse than expected CPI figures in NZ. The pair is losing so far some -0.43% since latest weekly close Friday.

According to Westpac FX strategist Imre Speizer, "The momentum in the Kiwi has just slowed," the analyst says, needing "some strong new news to kick it higher, maybe Wednesday's debt ceiling vote" in the US could do it. The analyst finds resistance for the pair at 0.8460, Lucy Craymer for DowJones reported. NZDUSD still trades above key 0.8300 handle, where latest ascending trend line passes by.

Immediate support to the downside for Kiwi lies at Friday's lows in NZ at 0.8320, followed by Jan 07 lows at 0.8290, and Dec 31 highs at 0.8269. To the upside, nearest term resistance shows at Jan 14 lows 0.8360, followed by Jan 15 lows/recent session highs at 0.8375, and Jan 02 highs at 0.8397.