17 Jun 2015
NZD/USD hits fresh multi-year lows
FXStreet (Córdoba) - The kiwi resumed the declined against the US dollar after consolidating during three consecutive trading days. NZD/USD broke below 0.6970 and accelerated to the downside. Recently bottomed at 0.6902, the lowest level since July 2010.
So far the area around 0.6900 capped the decline and currently trades at 0.6915, down more than 70 pips for the day. Traders await the FOMC meeting and Janet Yellen press conference.
NZD/USD outlook
The pair continues to move with a bearish bias in the short-term extending today the decline that started in May. The words of Yellen and the Fed could trigger volatility in the currency market, but as long as NZD/USD holds below 0.7140 (downtrend line originated at April highs), the upside could remain limited.
So far the area around 0.6900 capped the decline and currently trades at 0.6915, down more than 70 pips for the day. Traders await the FOMC meeting and Janet Yellen press conference.
NZD/USD outlook
The pair continues to move with a bearish bias in the short-term extending today the decline that started in May. The words of Yellen and the Fed could trigger volatility in the currency market, but as long as NZD/USD holds below 0.7140 (downtrend line originated at April highs), the upside could remain limited.