FXstreet.com (London) - The New Zealand Dollar has continued to trade soft into the Asian session this week. The Kiwi will likely look to cues form the broader economy as several major world states release GDP data this week. This data will be the next important signpost on the road to recovery.
The pair currently trades at 0.7035/41 against the Dollar, down nearly 80 pips from the previous sessions high. On thin Asian trade pair is likely to consolidate and trade in a range. For primary support levels this session, first is 0.7020 (Nov 27 Low) and 0.7005 (consolidation level from Sep 14). The Kiwi is hitting and surpassing recent lows, an effect which in fact will help exporters in the country, whose competitiveness has been damaged by NZD bull-run since q1.