16 Apr 2014
NZD/USD extends slide below 0.8600
FXStreet (Córdoba) - The NZD/USD fell further below 0.8700 and reached a fresh weekly low at 0.8577. The Kiwi weakened after the release of CPI data from New Zealand, then bounced back to the upside, but the recovery was short lived and resumed the downside. The Kiwi is among the worst performers across the board early in Asia.
So far the pair is falling more than 50 pips from Tuesday’s closing price headed toward the fourth daily decline out of the last five trading days.
Levels to consider for the NZD/USD
To the upside immediate resistance could be located at 0.8600 and above here at 0.8620 and 0.8665 while to the downside support levels might lie at 0.8575/80 (daily low), 0.8545 and 0.8510/15 (March 24, April 3 low).
So far the pair is falling more than 50 pips from Tuesday’s closing price headed toward the fourth daily decline out of the last five trading days.
Levels to consider for the NZD/USD
To the upside immediate resistance could be located at 0.8600 and above here at 0.8620 and 0.8665 while to the downside support levels might lie at 0.8575/80 (daily low), 0.8545 and 0.8510/15 (March 24, April 3 low).