Forex: NZD/USD testing support at 0.80, data ahead

FXstreet.com (San Francisco) - The New Zealand dollar continues to move downhill against the U.S. dollar late Wednesday, as NZDUSD has broken through trendline support (measured from June 1/July 25 troughs) to drop to a fresh 5-week low of 0.8005, stalling at the 100-day EMA.

The pair has ended the NA session at 0.8010, down 0.4 percent on the day, its fifth straight day of losses. Below the 0.80 figure, next support is noted at 0.7980 (7 May high).

Seasonally adjusted Building Permits data for July will be key risk event for NZD today in early Asia at 22:45 GMT, with a consensus forecast of a 3.0 percent. RBNZ Business confidence and NBNZ Business Activity Outlook figures are also due out at 01:00 GMT.