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NZD/USD hovering around 0.7940

FXStreet (Córdoba) - NZD/USD is flat on Friday, trading around 0.7940, at the same level it closed yesterday. Since the Asian session the pair remained above 0.7900 while on the upside, printed a fresh daily high at 0.7967 but then bounced back toward 0.7940.

NZD/USD continues to recover

The kiwi is about to post the second weekly gain in a row against the US dollar and continues to recover from 1-year lows that reached in September near 0.7700. Stocks on a volatile week, tumbled initially but then recover ground supporting the rise of NZD/USD, back above the level it had a week ago.

Despite rising for two consecutive weeks, the pair rose slightly above last week highs and remains limited below 0.8000, still facing a long term bearish trend.

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