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Forex - NZD/USD nears 7-day low weighed by risk aversion

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Forexpros - The New Zealand dollar slipped against its U.S. counterpart on Tuesday, weighed down by risk aversion amid uncertainty ahead of a key Greek vote on economic reforms demanded by international lenders.

NZD/USD hit 0.8035 during late Asian trade, the daily low; the pair subsequently consolidated at 0.8054, dipping 0.02%.

The pair was likely to find support at 0.7971, the low of June 16 and a three-week low and resistance at 0.8172, the high of June 24.

Greece's Parliament is due to vote Wednesday on the EUR28.4 billion, five-year austerity package. The plan must pass in order for Greece to access a EUR12 billion bailout from the European Union and the International Monetary Fund.

If the plan is not passed, it could result in the euro zone's first sovereign debt default, as Greece needs to cover EUR6.6 billion of bonds maturing in August.

The kiwi was also lower against its Australian counterpart, with AUD/NZD rising 0.14% to hit 1.2978.

Later in the day, the U.S. was to publish industry data on house price inflation, as well as a report on consumer confidence.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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