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23 Jun 2015
NZD/USD another day, another decline
FXStreet (Córdoba) - The kiwi is falling of the third trading day in a row and in nine out of the last eleven days against the US dollar. NZD/USD reached today a fresh 5-year low and remains under pressure.
During the Asian session the pair broke below 0.6860 and weakened. After being unable to recover, dropped further and bottomed at 0.6811. On American hours managed to trim losses and currently trades around 0.6850.
Will 0.6800 contain the decline?
The kiwi continues to be among the weakest currencies in the market. Despite showing oversold technical readings in various timeframes, NZD/USD downside moves continue. The next support level of consideration lies around 0.6800.
On Wednesday no economic data from New Zealand will be release and in the US there will be a new estimation of Q1 GDP.
During the Asian session the pair broke below 0.6860 and weakened. After being unable to recover, dropped further and bottomed at 0.6811. On American hours managed to trim losses and currently trades around 0.6850.
Will 0.6800 contain the decline?
The kiwi continues to be among the weakest currencies in the market. Despite showing oversold technical readings in various timeframes, NZD/USD downside moves continue. The next support level of consideration lies around 0.6800.
On Wednesday no economic data from New Zealand will be release and in the US there will be a new estimation of Q1 GDP.