Back
20 May 2015
NZD/USD falls to 2-month low below 0.7300; 260 pips down in a week
FXStreet (Cocoa) - NZD/USD fell 65 pips from 0.7360 in the American morning to break below 0.7320 support and trade at its lowest levels since March 18 at 0.7290. The NZD/USD has fallen 260 pips from last Thursday peak at 0.7560.
According to Imre Speizer of Westpac, "NZD/USD has been weighed down by market expectations the RBNZ will cut the OCR this year." Westpac targets NZD/USD sub-0.7300 during the next few weeks.
Currently, NZD/USD is trading at 0.7297, down 0.64% on the day, having posted a daily high at 0.7374 and low at 0.7292. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If the pair extends decline beyond 0.7300, it will find supports at 0.7270, 0.7200 and 0.7160. To the upside, resistances are at 0.7325, 0.7360 and 0.7370.
According to Imre Speizer of Westpac, "NZD/USD has been weighed down by market expectations the RBNZ will cut the OCR this year." Westpac targets NZD/USD sub-0.7300 during the next few weeks.
Currently, NZD/USD is trading at 0.7297, down 0.64% on the day, having posted a daily high at 0.7374 and low at 0.7292. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.
NZD/USD levels
If the pair extends decline beyond 0.7300, it will find supports at 0.7270, 0.7200 and 0.7160. To the upside, resistances are at 0.7325, 0.7360 and 0.7370.