29 Jan 2015
NZD/USD keeps falling, eyes 0.7200
FXStreet (Córdoba) - The NZD/USD pair attempted to recover following Wall Street opening bell but the upside found resistance below 0.7300 and turned again to the downside. After breaking below previous lows at 0.7260 the pair dropped to 0.7232, reaching a fresh 3-year low.
Currently trades slightly above 0.7230, about to post the lowest daily close since March 2011 and the eleventh daily loss out of the last twelve trading days, accumulating a decline of 570 pips since Jnauary 15.
A stronger US dollar, the RBNZ statement yesterday and a decline in commodity prices, pushed the pair to the downside during the last 24 hours.
Currently trades slightly above 0.7230, about to post the lowest daily close since March 2011 and the eleventh daily loss out of the last twelve trading days, accumulating a decline of 570 pips since Jnauary 15.
A stronger US dollar, the RBNZ statement yesterday and a decline in commodity prices, pushed the pair to the downside during the last 24 hours.