FXstreet.com (Athens) -NZD/USD tumbles on high possibility of U.S military strike against the Syrian government.

NZD/USD ignores encouraging Fonterra news on Syrian jitters

Despite the fact that New Zealand Ministry for Primary Industries said through the wires that "tests carried out on products containing suspect whey protein from Fonterra had cloristidium sporogenes which can not contain botulism...", the ‘kiwi’ hardly found the momentum to move upwards. While, escalating tensions in Syria and US rhetoric ramping up in the last 24 hours, investors all over the world might see that a war is looming. Wednesday seems to be a moderately busy day for economic news, but traders interested in the currency pair, should focus on US pending home sales.

Technical outlook on NZD/USD

At the time of writing, the pair is trading at 0.7760 area, down 0.46%, which it is close to its daily low (0.7747). The FXstreet.com Trend Index shows the pair to be strongly bearish. Daily pivot point support can be found at 0.7733, 0.7713, 0.7694 and resistance at 0.7831, 0.7850 and 0.7870, respectively.