NZD/USD heading lower in early Thursday action, ticking into 0.6880

• Kiwi faltering further, down into weekly lows as risk  aversion remains taut.
• It’s been a quiet week for the NZD on the economic calendar, leaving the Kiwi exposed to sentiment flows.

NZD/USD is trading into 0.6880 as risk appetite continues to take a header as risk appetite retreats further in Thursday’s early Asian market session, fueled by an unexpected contraction in Australia’s Trade Balance.

The Antipodeans are continuing to spiral downwards for Thursday after Australia’s Trade Balance clocked in a $600 million decline in their balance of trade, though the headline figure is getting skewed more by a surge in Exports, which grew by 3%, while Imports remained steady at 1%, but the red readings were enough to send the Pacific trading window onto the back foot, and the Kiwi is following suite with its closest neighbor, slipping back into last week’s highs after falling away from this week’s peak at 0.6970.

The NZD/USD pair is now trading into the 50-period moving average on 4-Hour candles, a confluence support level with mid-November’s swing high of 0.6885.

NZD/USD Technical Levels