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NZD/USD hits highest level since June

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Córdoba) - NZD/USD resumed the rally on Wednesday after a correction on Tuesday and hit the strongest level in three months. The pair beneficiated from the decline of the US dollar across the board.

    From 6-day low to 3-month highs

    The pair bottomed at the beginning of the day at 0.6617, reaching the lowest level since last Thursday and then bounced to the upside. It accelerated on European hours when it broke weekly highs. After the release of US economic data it jumped to 0.6788, reaching the highest level since July 1.

    Afterwards pulled back modestly and it found support above 0.6750. It was trading at 0.6760/65, up 125 pips from yesterday’s closing price. The kiwi so far was the best performer among commodity currencies and remained near the highs despite the retreated of equities in Wall Street.
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