The New Zealand dollar edged lower against its U.S. counterpart on Wednesday, hovering close to a five-year trough after euro zone officials gave Greece until Thursday to present new proposals to secure a deal with creditors. NZD/USD hit 0.6622 during late Asian trade, the session low; the pair subsequently consolidated at 0.6644, slipping 0.08%. The pair was likely to find support at 0.6621, Tuesday’s low and a five-year low and resistance at 0.6715, the high of July 6. The euro zone had expected Greece to submit fresh plans on Tuesday after its voters rejected a deal in a referendum, but no new proposals were tabled. European Council President Donald Tusk said this was now the “most critical moment in the history of the euro zone”. A meeting of all 28 members of the European Union was also scheduled for Sunday – a day after the new Greek proposals are expected to be discussed by euro zone finance ministers. The kiwi was higher against the Australian dollar, with AUD/NZD declining 0.67% to 1.1133.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5470 TARGET 1.5490 1.5520 SL 1.5440
SELL GBP/USD BELOW 1.5328 TARGET 1.5308 1.5278 SL 1.5358
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