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NZD/USD holds above 0.8100

FXStreet (Córdoba) - The kiwi weakened during the European session and lost ground versus the US dollar but managed to hold above 0.8100 on the first trading day after New Zealand national elections. NZD/USD bottomed at 0.8097 hours ago but quickly rose back above 0.8100.

Ahead of Wall Street closing trades at 0.8120, down 0.18% for the day and 50 pips below daily highs. The pair started the week with a positive tone after the victory of the ruling national party and rose to 0.8168 (daily high), area located slightly below Friday’s highs but then lost momentum and pulled back.

For the first time since the beginning of the month, NZD/USD does not reach fresh multi-month lows in two consecutive trading days, showing some signs of stabilization after dropping more than 700 pips since July 11.

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