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23 Jan 2015
NZD/USD slumps to lowest since June 2012
FXStreet (Mumbai) - The New Zealand dollar shaved off previous and fell to fresh two and a half year lows against the US dollar in the late Asian morning.
Currently, the NZD/USD hit fresh 2.5 year lows at 0.7480 levels, down -0.28% on the day. The Kiwi pair reversed upbeat Chinese PMI induced gains and slipped after the US dollar headed towards fresh twelve year peak versus its major counterparts. The pair is also likely to remain pressured as markets now expect RBNZ to follow the foot-steps of Bank of Canada (BOC) for a possible easing sooner than expected.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7584 and above which it could extend gains to 0.7600 levels. To the downside, immediate support might be located at 0.7451 levels and below that at 0.7424 levels
Currently, the NZD/USD hit fresh 2.5 year lows at 0.7480 levels, down -0.28% on the day. The Kiwi pair reversed upbeat Chinese PMI induced gains and slipped after the US dollar headed towards fresh twelve year peak versus its major counterparts. The pair is also likely to remain pressured as markets now expect RBNZ to follow the foot-steps of Bank of Canada (BOC) for a possible easing sooner than expected.
NZD/USD Technical Levels
To the upside, the next resistance is located at 0.7584 and above which it could extend gains to 0.7600 levels. To the downside, immediate support might be located at 0.7451 levels and below that at 0.7424 levels