The NZD bounced off intra-night lows on Friday night to end the week at 0.7800. After relatively quiet trading on Friday, the NZD/USD drifted lower on Friday night. However, disappointing US home sales data, arrested the NZD’s fall. The NZD/USD then rebounded from lows around 0.7760 to close the week around 0.7800.
Having started last week testing the upper-end of its recent trading range, the currency is now close to the lower-end of this range. The bottom end of the range is marked by lows in June, July and early-August around 0.7690.
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