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22 Jun 2015
NZD/USD hits fresh 5-year low
FXStreet (Córdoba) - The kiwi attempted to recover ground against the US dollar during the Asian session, but it failed to hold above 0.6900. On American hours broke below 0.6870 and bottomed at 0.6861, hitting the lowest level since July 2010.
NZD/USD is about to end the day below 0.6880, falling for the eight time, out of the last ten trading days as the kiwi remains among the weakest currencies in the market. The change in the direction of the monetary policy at the Reserve Bank of New Zealand affected the kiwi. The central bank was among the few rising rates last year and now is about to cut rates for the second meeting in a row.
NZD/USD technical levels
To the downside immediate support lies at 0.6860 (daily low) and below here at 0.6810/20. On the opposite direction, the area around 0.6900 has now become a resistance followed by 0.6930 (daily high) and 0.7010.
NZD/USD is about to end the day below 0.6880, falling for the eight time, out of the last ten trading days as the kiwi remains among the weakest currencies in the market. The change in the direction of the monetary policy at the Reserve Bank of New Zealand affected the kiwi. The central bank was among the few rising rates last year and now is about to cut rates for the second meeting in a row.
NZD/USD technical levels
To the downside immediate support lies at 0.6860 (daily low) and below here at 0.6810/20. On the opposite direction, the area around 0.6900 has now become a resistance followed by 0.6930 (daily high) and 0.7010.