OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD breaks below 0.6500, hits fresh 1-month lows

FXStreet (Córdoba) - The New Zealand dollar is among the worst performers on Monday, having lost around 1% throughout the day to score fresh 1-month lows amid a cautious mood in financial markets.

NZD/USD broke decisively below the 0.6500 level and fell to its lowest level since Oct 5 at 0.6468 before finding support and recovering slightly. At time of writing, the pair is trading at 0.6477, recording a 0.98% loss on the day.

NZD/USD levels to watch

In terms of technical levels, NZD/USD could face next supports at 0.6457 (61.8% Fibo of 0.6185-0.6897), 0.6437 (Oct 5 low) and 0.6400 (psychological level). On the other hand, resistances are seen at 0.6545 (50-day SMA/Nov 16 high), 0.6558 (100-day SMA) and then 0.6587 (Nov 11 high).

US Dollar testing highs near 99.30

The greenback, in terms of the US Dollar Index, is advancing for the second consecutive session and is currently flirting with daily highs around 99.30/35...
Read more Previous

EM's start out on a soft footing; China calm is positive - BBH

Analysts at Brown Brothers Harriman noted that the EM starts the week on a soft footing.
Read more Next
Start livechat