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23 Feb 2016
NZD/USD falling off a cliff, testing 0.6660
The Kiwi dollar has abandoned session highs in the 0.6715/10 band vs. the greenback today, quickly sending NZD/USD to fresh lows near 0.6660.
NZD/USD lower on USD recovery
NZD is following the rest of its risk-associated peers on their way south today after crude oil prices have sharply reversed the initial positive tone, hurting the broader risk-on sentiment.
Collaborating with the downside momentum, USD has regained the interest amongst buyers, pushing the US Dollar Index to daily highs in spite of mixed resulst from the US docket.
NZD/USD relevant levels
As of writing the pair is losing 0.67% at 0.6670 facing the next support at 0.6615 (20-day sma) followed by 0.6543 (low Feb.16) and then 0.6346 (low Jan.20). On the other hand, a breakout of 0.6755 (high Feb.5) would aim for 0.6800 (psychological level) and finally 0.6892 (high Dec.29).
NZD/USD lower on USD recovery
NZD is following the rest of its risk-associated peers on their way south today after crude oil prices have sharply reversed the initial positive tone, hurting the broader risk-on sentiment.
Collaborating with the downside momentum, USD has regained the interest amongst buyers, pushing the US Dollar Index to daily highs in spite of mixed resulst from the US docket.
NZD/USD relevant levels
As of writing the pair is losing 0.67% at 0.6670 facing the next support at 0.6615 (20-day sma) followed by 0.6543 (low Feb.16) and then 0.6346 (low Jan.20). On the other hand, a breakout of 0.6755 (high Feb.5) would aim for 0.6800 (psychological level) and finally 0.6892 (high Dec.29).