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"Most commodities for exports fell this month, with primary products driving the decrease although it should be noted that April 2011 had the highest exports value for any month on record so far."
- Neil Kelly, industry and labor statistics manager of Statistics New Zealand said in a statement (based on MarketWatch)
Pair's Outlook
NZD/USD managed to advance higher, though the bullish advancement was moderate today. As concerns over Spain and Greece grow, the uplift in NZD/USD is likely to be short-lived, and NZD/USD could slide towards an initial support level at 0.7573 (PP Weekly; Initial support line). Support levels at 0.7470 (S1 Weekly) and 0.7417 (Lower Bollinger band) to remain in focus once there is a breakout of the initial support level.
Traders' Sentiment
The absolute majority of traders (83%) have bought the New Zealand Dollar against the US dollar, making the sentiment bullish on NZD/USD.
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