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NZD/USD breaks below 0.6500, hits fresh 1-month lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - The New Zealand dollar is among the worst performers on Monday, having lost around 1% throughout the day to score fresh 1-month lows amid a cautious mood in financial markets.

    NZD/USD broke decisively below the 0.6500 level and fell to its lowest level since Oct 5 at 0.6468 before finding support and recovering slightly. At time of writing, the pair is trading at 0.6477, recording a 0.98% loss on the day.

    NZD/USD levels to watch


    In terms of technical levels, NZD/USD could face next supports at 0.6457 (61.8% Fibo of 0.6185-0.6897), 0.6437 (Oct 5 low) and 0.6400 (psychological level). On the other hand, resistances are seen at 0.6545 (50-day SMA/Nov 16 high), 0.6558 (100-day SMA) and then 0.6587 (Nov 11 high).
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