NZD/USD falls toward weekly lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - The US dollar gained momentum against commodity currencies after the beginning of trading in Wall Street and pushed NZD/USD further to the downside.

    Price broke below Asian session lows located at 0.6715 and bottomed at 0.6703, hitting the lowest level since Monday. It was trading around 0.6710, almost a hundred pips below yesterday’s closing price.

    The pair is falling sharply after reaching on Wednesday at 0.6833, the strongest price in almost two months after the decision of the Federal Reserve to raise rates.

    NZD/USD technical levels

    To the downside, support levels might lie at 0.6690 (Dec 14 low), 0.6660 (Dec 08 high) and 0.6605 (Dec 02 & 03 low). On the opposite direction, resistance could be located at 0.6740 (20-hour MA) and 0.6775 (daily high).

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