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NZD/USD drops to 0.7805

FXStreet (Córdoba) - The kiwi is falling for the second day in a row against the US dollar amid risk aversion. NZD/USD moved sideways during the Asian session between 0.7875 and 0.7845. On European hours greenback strengthened across the board and the pair fell below 0.7845.

NZD/USD bottomed at 0.7805, reaching the lowest price since Wednesday and erased all pos-FOMC minutes gains. Currently trades at 0.7825, 35 pips below yesterday’s closing price.

NZD/USD technical levels

To the downside, immediate support lies around 0.7805 (daily low) and below here at 0.7780 (Oct 6, 7 low), followed by 0.7735 (Sept 30 low). A recovery could face resistance at 0.7840/45 (Asian session low), 0.7878 (daily high) and 0.7915.

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