13 Feb 2014
NZD/USD ends flat after reaching 4-week highs
FXStreet (Córdoba) - The NZD/USD finished practically unchanged on Wednesday, after being unable to hold to gains. Recently rose slightly to 0.8321 after the release of the BusinessNZ Manufacturing Index (PMI) for the month of January.
NZD/USD Swing day
Despite ending flat, the NZD/USD reached the strongest level since January 14 and peaked at 0.8368 on European hours. But then lost steam, started to pullback and fell further during the American session erasing all gains as stock in Wall Street finished with mixed results.
The Kiwi continues to move with an upside bias in the short-term but the failure to hold above 0.8350 could signal some exhaustion. Since the beginning of February it has risen more than 200 pips.
NZD/USD Swing day
Despite ending flat, the NZD/USD reached the strongest level since January 14 and peaked at 0.8368 on European hours. But then lost steam, started to pullback and fell further during the American session erasing all gains as stock in Wall Street finished with mixed results.
The Kiwi continues to move with an upside bias in the short-term but the failure to hold above 0.8350 could signal some exhaustion. Since the beginning of February it has risen more than 200 pips.