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23 Jan 2015
NZD/USD suffers worst week since 2011
FXStreet (Córdoba) - The NZD/USD pair is having the worst weekly performance since 2011 as it trades at 0.7915, 330 pips below the level it had a week ago. A stronger US dollar and expectations about a dovish change at the Reserve Bank of New Zealand weakened the pair.
After Wall Street opening bell on Friday, the pair attempted to recover from 3-year lows (0.7430) but found resistance at the 0.7500 handle and pulledbak toward 0.7460.
From a technical perspective, the break of the long term support area at 0.7600 weakened the kiwi considerably. Now, NZD/USD is about to post the lowest weekly close since November 2011.
After Wall Street opening bell on Friday, the pair attempted to recover from 3-year lows (0.7430) but found resistance at the 0.7500 handle and pulledbak toward 0.7460.
From a technical perspective, the break of the long term support area at 0.7600 weakened the kiwi considerably. Now, NZD/USD is about to post the lowest weekly close since November 2011.