16 Jul 2014
NZD/USD rises back above 0.8700
FXStreet (Córdoba) - The NZD/USD is dropping sharply for the second day in a row and is about to post the lowest daily close for the current month. During the European session bottomed at 0.8688, hitting the lowest price since June 25.
Price managed to rise back above 0.8700 but the recovery found resistance around 0.08720/25 and currently the pair trades at 0.8707, 60 pips below yesterday’s closing price.
The Kiwi is among the worst performers across the board on Wednesday while the US dollar is the opposite and extended weekly gains.
NZD/USD levels to watch
To the upside immediate resistance lies at 0.8720/25 (American session high) and above here at 0.8750 (July 15 low) and 0.8785. To the downside, price could find support at 0.8700 and below here at 0.8685 (daily low) followed by 0.8640 (June 17 low).
Price managed to rise back above 0.8700 but the recovery found resistance around 0.08720/25 and currently the pair trades at 0.8707, 60 pips below yesterday’s closing price.
The Kiwi is among the worst performers across the board on Wednesday while the US dollar is the opposite and extended weekly gains.
NZD/USD levels to watch
To the upside immediate resistance lies at 0.8720/25 (American session high) and above here at 0.8750 (July 15 low) and 0.8785. To the downside, price could find support at 0.8700 and below here at 0.8685 (daily low) followed by 0.8640 (June 17 low).