FXStreet (Guatemala) - NZD/USD is currently trading at 0.6715 with a high of 0.6739 and a low of 0.6708. NZD/USD has dropped with a bid greenback as we progress towards the Tokyo open today and the bird is shunned on continued problematic domestic economics with the earlier release of The GDT Price Index, released by Global Dairy Trade. NZD/USD price action NZD/USD extended the bearish trend from the double top of the 0.77 handle in April's business after another minor recovery along the descending path yesterday at 0.6747 reaching 0.6808 at the start of this month and yesterday's close. The price has been in free fall throughout european and US trade and takes the largest bulk of supply since to make current lows at at 0.6708. NZD/USD fundamentally on dairy, Greece and a positive data day for US The greenback has been in demand with the ADP report impressing ahead of tomorrow's NFP setting a precedent for the US jobs market. ISM manufacturing PMS was positive also. Meanwhile, in the GDT Price Index, dairy prices slid further overnight, as we reported here, with the GDT-TWI down another 5.9% to US$2,276/t, as noted by the Research Team at ANZ. Greece referendum seems without doubt on the cards as Eurogroup/Athens discussions have been reported to have terminated until an outcome is reached on Europe's weekend. Apart from an early bid in Europe, the euro has drifted aggressively and over a cent of losses to reach lowest level since the bearish opening gap, and the Kiwi remains less favoured in a risk off environment. NZD/USD technically headed to 2010 lows? NZD/USD has traded at the lowest level since the beginning of the aforementioned origin of this stage of the long term bearish trend. 0.7000 comes as first major key resistance ahead of 0.7200 now that we are deeper in the red. A break of 0.6700 opens 2010 lows of 0.6572 on the map again.

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