9 Apr 2014
NZD/USD reverses after hitting fresh 32- month highs
FXStreet (Córdoba) - The NZD/USD rose during the Asian session to 0.8707 reaching the highest price since July 2011 and then stabilized around 0.8700. On European hours lost momentum and started to pull back.
Price accelerated to the downside and recently bottomed at 0.8646. At the moment trades at 0.8650, down 0.30% for the day, falling for the first time after rising in the previous three days. Traders are awaiting for the FOMC minutes that will be released in a few minutes.
The reversal that started after the NZD/USD was rejected from levels on top of 0.8700 gives some signals of exhaustion to the upside. So far the retracement has been moderated and the pair still holds 70 pips above the price it had at the beginning of the week.
Price accelerated to the downside and recently bottomed at 0.8646. At the moment trades at 0.8650, down 0.30% for the day, falling for the first time after rising in the previous three days. Traders are awaiting for the FOMC minutes that will be released in a few minutes.
The reversal that started after the NZD/USD was rejected from levels on top of 0.8700 gives some signals of exhaustion to the upside. So far the retracement has been moderated and the pair still holds 70 pips above the price it had at the beginning of the week.