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20 Apr 2015
NZD/USD retreats and drops below 0.7700
FXStreet (Córdoba) - NZD/USD approached last week highs early on Monday but then lost momentum and pulled back. After Wall Street opening bell accelerated the decline and dropped to 0.7651, area located slightly above Friday’s lows.
Currently trades at 0.7660, down 0.30% for the day so far, headed toward the first daily decline in a week. Greenback strengthened against commodity currencies during the American session as US stocks consolidate important gains. The Dow Jones was up 1.27% and the Nasdaq was rising 1.18%.
NZD/USD recovery ¿continues?
Last week the pair rose more than 150 pips and reached monthly highs as it extended the recovery from levels under 0.7200. The rally was capped by 0.7740 and today price pulled back below 0.7700, sending signals of a potential bearish correction. A break above the 0.7740 area, where a downtrend line stands, could open the doors for a bullish continuation.
Currently trades at 0.7660, down 0.30% for the day so far, headed toward the first daily decline in a week. Greenback strengthened against commodity currencies during the American session as US stocks consolidate important gains. The Dow Jones was up 1.27% and the Nasdaq was rising 1.18%.
NZD/USD recovery ¿continues?
Last week the pair rose more than 150 pips and reached monthly highs as it extended the recovery from levels under 0.7200. The rally was capped by 0.7740 and today price pulled back below 0.7700, sending signals of a potential bearish correction. A break above the 0.7740 area, where a downtrend line stands, could open the doors for a bullish continuation.