New Zealand’s dollar rose today’s morning to $0.8215, the highest level versus its US counterpart since its free float began in 1985.

Kiwi was encouraged by the release of the nation’s trade data that showed that trade surplus in April reached the record maximum of 1.113 billion exceeding the 603-million estimate in more than 2 times.

Currency strategists at RBC Capital Markets note that after hitting the maximal level, the pair NZD/USD eased down to the levels in the 0.8170 zone. The specialists note that euro is coming under a little bit of pressure that’s weighting on New Zealand’s currency. In their view, NZD/USD will remain supported as the country’s Prime Minister Key confirmed that China expresses interest in buying New Zealand’s bonds. According to RBC, support for the pair is found at 0.8125, while resistance is situated at 0.8220.

As for the greenback, analysts at ANZ National Bank think it will keep weakening. The specialists advise to watch US economic data tomorrow that they expect to be quite unfavorable: S&P/Case-Shiller index of property values in 20 cities (released at 1:00 pm GMT) and Institute for Supply Management-Chicago PMI (due at 1:45 pm GMT).


Chart. Daily NZD/USD