OctaFX | OctaFX Forex Broker
Open trading account

NZD/USD erases gains, drops toward 0.6600

FXStreet (Córdoba) - NZD/USD peaked at 0.6671 following the decisions of the ECB that weakened the US dollar but then reversed and erased all gains. Recently it bottomed at 0.6616, hitting a fresh daily low. Currently it trades at 0.6620/25, 15 pips below yesterday’s closing price.

NZD/USD testing Wednesday’s lows

So far, today’s decline has been capped above 0.6610, where also yesterday’s lows are located. The area around 0.6610 has become an important short-term support, below is followed by 0.6595 (Nov 26 high) and 0.6575 (Nov 04 low). On the opposite direction, resistance might be seen at 0.6645 (20-hour MA), 0.6670 (daily high) and 0.6690 (Dec high).

USD stronger vs commodity currencies

Despite falling sharply against European currencies, the US dollar is rising versus commodity currencies; among them the kiwi is the worst performer affected by risk aversion. The Dow Jones started the day with gains but now is falling 0.45% while the Nasdaq declines 0.45%.

US Dollar bounces off 98.20

The greenback, tracked by the US Dollar Index, has collapsed to the area of 98.20 following the ECB meeting, albeit managing to recover some ground afterwards...
Read more Previous

WTI back above $40.00

Crude oil prices have recovered the smile on Thursday, currently advancing beyond the $40.00 mark per barrel...
Read more Next
Start livechat