Forex: NZD/USD slides 0.24%

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Forex: NZD/USD slides 0.24%

FITITOL--> FXstreet.com (Barcelona) - The New Zealand dollar has continued losing ground against the greenback, falling 0.24% in the early hours of the European trading session. The latest GDP, consumption and consumer sentiment figures of the US will be released today. It is expected that GDP will reach YoY growth of 2.5%, slightly slower than in the previous reading (3.0%) while real personal consumption expenditures should accelerate from 1.3% to 2.1%. Forecasts point out to a lower score for the Reuters/Michigan consumer sentiment index (75.9 from 76.2).

Initial jobless claims in the US came short of expectations, dropping to 388K from 389K (forecast was 375K) while continuing jobless claims rose to 3.315M (instead of 3.295). Pending home sales grew by 4.1% MoM, much better than expected (1.0% forecast).

The pair is currently trading at 0.8132 with resistance at 0.8187, ahead of 0.8223 and 0.8256, according to Fxstreet.com pivot points on technical tools. On the downside, t here is support at 0.8118, followed by 0.8085 and 0.8049.