15 Jan 2014
NZD/USD downside momentum continues
FXstreet.com (Córdoba) - The NZD/USD finished Wednesday around 0.8335, with a decline of almost 50 pips, the worst day since December 19. During the European session the Kiwi recovered ground but it was a short-lived recovery and headed to fresh lows in American hours.
The pair bottomed at 0.8323 but managed to climb and closed above the support level that still holds at 0.8330.
NZD/USD decline: more than a correction?
Just two days ago the NZD/USD rose to 0.8430, hitting the highest price in two and a half months. But since then it has fallen continuously, with small pauses. From Tuesday's highs has dropped a hundred pips, suggesting that recent moves could be more than a correction.
Despite recent declines, the NZD/USD is still trading above last week highs that lie at 0.8320; below the next support could be located at 0.8300 (psychological level) and 0.8250 (January 6, 7 low). To the upside, resistance from current price lies at 0.8370 (European session high) and above at 0.8395.
The pair bottomed at 0.8323 but managed to climb and closed above the support level that still holds at 0.8330.
NZD/USD decline: more than a correction?
Just two days ago the NZD/USD rose to 0.8430, hitting the highest price in two and a half months. But since then it has fallen continuously, with small pauses. From Tuesday's highs has dropped a hundred pips, suggesting that recent moves could be more than a correction.
Despite recent declines, the NZD/USD is still trading above last week highs that lie at 0.8320; below the next support could be located at 0.8300 (psychological level) and 0.8250 (January 6, 7 low). To the upside, resistance from current price lies at 0.8370 (European session high) and above at 0.8395.