24 Jun 2014
NZD/USD drops below 0.8700
FXStreet (Córdoba) - The NZD/USD broke below 0.8700 and dropped to 0.8679, reaching the lowest price since last Wednesday. After moving sideways during most of the day between 0.8725 and 0.8700, the US dollar strengthened across the board in the last hours and pushed the NZD/USD below 0.8700.
Yesterday the Kiwi rose to 0.8747, hitting the highest price in a month versus the US dollar but failed to hold and pulled back. Today is accelerating the bearish correction and currently is testing a support area around 0.8670.
NZD/USD levels to consider
Below 0.8670 the next support might be located at 0.8655 and 0.8640 (June 13, 17 lows). To the upside, above 0.8700 the Kiwi could recover momentum; resistance then lies at 0.8725 (daily high) and 0.8745/50 (June 23 high).
Yesterday the Kiwi rose to 0.8747, hitting the highest price in a month versus the US dollar but failed to hold and pulled back. Today is accelerating the bearish correction and currently is testing a support area around 0.8670.
NZD/USD levels to consider
Below 0.8670 the next support might be located at 0.8655 and 0.8640 (June 13, 17 lows). To the upside, above 0.8700 the Kiwi could recover momentum; resistance then lies at 0.8725 (daily high) and 0.8745/50 (June 23 high).