21 Jan 2015
NZD/USD breaks below 0.7600 to 2-year lows
FXStreet (Córdoba) - As the US dollar strengthened across the board, the NZD/USD pair dropped sharply and broke broke below 0.7620 and tumbled to 0.7553, reaching levels last seen in June 2012.
The pair remains near the lows under pressure and consolidating below a key long term support located around 0.7600, suggesting that the decline could continue.
Since last September NZD/USD was trading in a range between 0.8000 and 0.7600, still holding a bearish bias. Today’s slide, if confirm, is an important move from a technical perspective. The kiwi is headed toward the lowest daily close in more than two years against the US dollar.
The pair remains near the lows under pressure and consolidating below a key long term support located around 0.7600, suggesting that the decline could continue.
Since last September NZD/USD was trading in a range between 0.8000 and 0.7600, still holding a bearish bias. Today’s slide, if confirm, is an important move from a technical perspective. The kiwi is headed toward the lowest daily close in more than two years against the US dollar.