27 May 2014
NZD/USD drops below 0.8550
FXStreet (Córdoba) - The NZD/USD turned to the downside and after erasing gains dropped further, reaching a fresh daily low at 0.8529. The Kiwi remains weak against the US dollar holding barely above weekly lows and the important 0.8500 - 0.8515 support zone.
Currently trades at 0.8534, down 0.15% for the day so far. Earlier, on Asian hours the pair rose to 0.8578, hitting levels not seen in three days but failed to hold to gains and accelerated to the downside below 0.8550.
NZD/USD: downside bias prevails, but still above key support
Despite reaching fresh lows for the current month yesterday and several times last week the NZD/USD continues to hold above the 0.8500 level that also capped the downside during April. If the pair fall below 0.8497 it would reach the lowest price since March 12.
Currently trades at 0.8534, down 0.15% for the day so far. Earlier, on Asian hours the pair rose to 0.8578, hitting levels not seen in three days but failed to hold to gains and accelerated to the downside below 0.8550.
NZD/USD: downside bias prevails, but still above key support
Despite reaching fresh lows for the current month yesterday and several times last week the NZD/USD continues to hold above the 0.8500 level that also capped the downside during April. If the pair fall below 0.8497 it would reach the lowest price since March 12.