The New Zealand dollar found it hard to recover after the previous blows and reached new lows. The focus is now on the bi-weekly milk auction and the ANZ Business Confidence.Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Consumer sentiment dipped in Q1 according to Westpac. Also visitor arrivals slowed down. On the other hand, kiwi shoppers are still on the move. In the US, data has been generally positive, with home sales leading the way. The Greek crisis has a small indirect impact on this pair as well. [do action=”autoupdate” tag=”NZDUSDUpdate”/]NZD/USD daily chart with support and resistance lines on it. Click to enlarge: Building Consents: Monday, 22:$5. The monthly report about building approvals provides an interesting insight into the housing sector, that has somewhat cooled down. After a slide of 1.% in April, we could see another fall in May. ANZ Business Confidence: Tuesday, 1:00. this highly regarded survey of 1500 businesses has been stable for quite a while, but has suddenly halved to 15.7 points in May. The score for June will likely be even lower. The report tends to have a strong impact. GDT Price Index: Wednesday. The bi-weekly auction, known as the Global Dairy Trade Price Index, provides a snapshot about New Zealand’s biggest export: milk. It fell for 7 consecutive events. Can it stabilize now? A bounce is necessary for the kiwi to bounce. ANZ Commodity Prices: Thursday, 1:00. In the past two months, this indicator of commodity prices has fallen. After a drop of 4.7% seen last time, we could see a small rise this time. Note that the milk auction has a stronger impact. NZD/USD Technical Analysis Kiwi/dollar began the week on lower ground and was only 14 pips shy of the round 0.68 level we mentioned last week. From there we did see some stabilization, but the pair remains beaten. Live chart of NZD/USD: [do action=”tradingviews” pair=”NZDUSD” interval=”60″/]Technical lines, from top to bottom: The very round number of 0.75 capped the pair just before the big fall and serves as strong resistance. It is followed by 0.7450 that had a role in the past. The next line is 0.7370, which was a low point in 2011. It is followed by 0.7315, which supported the pair in May. The recent 2015 low of 0.7235 is now the next support line. It is followed by 0.7180 that served as resistance back in 2010. Lower, the round level of 0.71 used to provide support in the past but was breached now. The new low of 0.7064 now works as resistance. And of course, the very round level of 0.70 looms large and is still a battle line. It also worked as support. roles as support. Below, the low of 0.6940 is another battle ground. The round 0.69 level is a pivotal line within the range. 0.6860 was a low point as the pair dropped in June 2015. It is followed by the 0.68 level that worked as resistance when the pair was climbing a few years back. Looking even lower, real support awaits at 0.6560, which is the post crisis low for the kiwi. I remain bearish on NZD/USD The RBNZ doesn’t let go and continued urging for a weaker currency. In addition, the fall in Chinese stocks suggests commodity prices could further suffer, even if the impact on New Zealand’s dairy exports is not as big as on Australia’s metals. In our latest podcast, we discuss building on the US recovery, the Greek crisis and EUR, Saudi solar and next week’s events. Follow us on Sticher. Further reading: For a broad view of all the week’s major events worldwide, read the USD outlook. For EUR/USD, check out the Euro to Dollar forecast. For the Japanese yen, read the USD/JPY forecast. For GBP/USD (cable), look into the British Pound forecast. For the Australian dollar (Aussie), check out the AUD to USD forecast. For USD/CAD (loonie), check out the Canadian dollar forecast. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam MinorsNZD/USD Forecast share Read Next Report: ECB to end Greek ELA – Grexit chances are rising Yohay Elam 7 years The New Zealand dollar found it hard to recover after the previous blows and reached new lows. The focus is now on the bi-weekly milk auction and the ANZ Business Confidence.Here is an analysis of fundamentals and an updated technical analysis for NZD/USD. Consumer sentiment dipped in Q1 according to Westpac. Also visitor arrivals slowed down. On the other hand, kiwi shoppers are still on the move. In the US, data has been generally positive, with home sales leading the way. The Greek crisis has a small indirect impact on this pair as well. [do action="autoupdate" tag="NZDUSDUpdate"/] NZD/USD daily chart… 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.