2012.05.09 07:05:04 MARKET TALK: NZD/USD Under Pressure As Europe Woes Weigh - HSBC

0505 GMT [Dow Jones] The NZD/USD remains under pressure as concerns grow about Europe following the Greek elections but it has failed to breach support, says HSBC NZ Chief Manager Daniel Brdanovic. "It can't get through (support) because the euro is not going down. We've seen quite a few sellers of euro but obviously there are names out there buying in size." He adds that he thinks it will take until London opens for support to be tested in the NZD/USD; "Despite all the news on Europe the euro has held in relatively well." The pair is at 0.7851 vs 0.7877 early this morning. Brdanovic puts support at 0.7840-0.7850, with resistance at 0.7970. (lucy.craymer@dowjones.com) Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com (END) Dow Jones Newswires May 09, 2012 01:05 ET (05:05 GMT)