18 Jul 2014
NZD/USD keeps dropping like a stone
FXStreet (Bali) - NZD/USD' sfree-fall keeps extending in the transition between NY and Tokyo, with the rate breaking below Thursday's low.
The pair is currently facing bids at 0.8660-65, the June 25 low, with a break lower exposing 0.8640, double bottom from June 12 and 16.
According to Peter Fell, Analyst at FXBeat: "Stop loss orders are being touted below 8660. Support now seen at 8619, 50% fibo on the 8402 / 8836. Risk aversion the name of the game so far, let's see if we can gather some momentum."
The pair is currently facing bids at 0.8660-65, the June 25 low, with a break lower exposing 0.8640, double bottom from June 12 and 16.
According to Peter Fell, Analyst at FXBeat: "Stop loss orders are being touted below 8660. Support now seen at 8619, 50% fibo on the 8402 / 8836. Risk aversion the name of the game so far, let's see if we can gather some momentum."