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Forex: NZD/USD posts first daily decline in a week

FXstreet.com (Córdoba) - The Kiwi ended lower against the US Dollar on Wednesday posting the first daily decline in five days but managed to end far from the lows. The NZD/USD bottomed during the New York session at 0.8340 and finished Wednesday around 0.8360. The pair suffered from profit taking and risk aversion.

An hour ago spiked to the downside, hitting 0.8350 but rebounded quickly toward 0.8370. Currently trades at 0.8360/64, 20 pips above the price it had at the beginning of the week.

To the upside resistance levels lie at 0.8375 (NY high) and 0.8400 while to the downside support levels could be located at 0.8360, 0.8350 and 0.8330 (Mar 25 low). The 0.8400 level stopped the rally of the NZD/USD that a week ago was trading at 0.8220 and rose constantly until finding resistance on Tuesday.

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Forex: EUR/JPY stalls above 120.00 for the moment

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