A weaker annualized New Zealand’s (NZ) Q1 GDP figures continue to weigh. Bears targeting 0.7800 ahead of the US Philly Fed manufacturing index and jobless claims. The NZD/USD pair remains heavily offered so far this Thursday, having faced fresh selling pressure following the release of NZ Q1 GDP report, which showed a downtick in the annualized figures when compared to the fourth quarter. The Q1 GDP data casts doubt over the expectations of a rebound in NZ second-quarter growth while also weighing negatively on the Reserve Bank of New Zealand’s (RBNZ) interest rates outlook in the coming months. Also, a pick-up in the US dollar buying across the board in Asia, as improved risk appetite lifted the demand for Treasury yields across the curve, collaborated to the weakness in the major. However, over the last minutes, the spot is seen making tepid recovering attempts, tracking the uptick in its OZ neighbor Aussie. But the divergent monetary policy outlooks between the Fed and RBNZ will continue to remain supportive of the greenback, keeping the sentiment undermined around the Kiwi. Data-wise, markets await the US Philly Fed manufacturing index and jobless claims for near-term trading opportunities. NZD/USD Technical Levels Resistance 1: 0.6900-0.6923 area figure and supply/demand level, Resistance 2: 0.6960, June 1 low, Resistance 3 0.7000 (round number). Support1: 0.6833, current 2018 low, Support2: 0.6816 December 1, 2017 low, Support 3: 0.6780, 2017 low. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China’s CommerceMin: China’s Vice Premier Liu to attend meeting with Europe delegation FX Street 5 years A weaker annualized New Zealand's (NZ) Q1 GDP figures continue to weigh. Bears targeting 0.7800 ahead of the US Philly Fed manufacturing index and jobless claims. The NZD/USD pair remains heavily offered so far this Thursday, having faced fresh selling pressure following the release of NZ Q1 GDP report, which showed a downtick in the annualized figures when compared to the fourth quarter. The Q1 GDP data casts doubt over the expectations of a rebound in NZ second-quarter growth while also weighing negatively on the Reserve Bank of New Zealand's (RBNZ) interest rates outlook in the coming months. Also, a… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.