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19 Mar 2015
NZD/USD retreats further below 0.7450
FXStreet (Córdoba) - NZD/USD continued to decline during the last hours, approaching the level it had before the Federal Reserve’s decision. The pair printed a fresh daily low at 0.7385, more than a 150 pips below today’s highs.
Yesterday, after the FOMC statement jumped to 0.7543, the strongest level since March 5. Today during the Asian session rose to test daily highs but after being unable to break higher, retreated sharply amid a recovery of the US dollar across the board.
Initially found support at 0.7450 but then broke below and dropped to 0.7380/85. Currently is trading back above 0.7400, at 0.7415, down 60 pips from yesterday’s closing price. The kiwi is still up for the week, rising after falling in the previous two; still holding below a key resistance area located around 0.7560 - 0.7580.
Yesterday, after the FOMC statement jumped to 0.7543, the strongest level since March 5. Today during the Asian session rose to test daily highs but after being unable to break higher, retreated sharply amid a recovery of the US dollar across the board.
Initially found support at 0.7450 but then broke below and dropped to 0.7380/85. Currently is trading back above 0.7400, at 0.7415, down 60 pips from yesterday’s closing price. The kiwi is still up for the week, rising after falling in the previous two; still holding below a key resistance area located around 0.7560 - 0.7580.