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27 Aug 2015
NZD/USD unable to rise above 0.6500; holds a bearish tone
FXStreet (Córdoba) - NZD/USD is marginally higher on Thursday as it continues to move sideways in a small trading range consolidating weekly losses. Among commodity currencies the kiwi is the worst performer and is losing ground versus the aussie and the loonie.
From the level it finished last week, it trades 200 pips below and is headed toward the lowest weekly close since July 2009.
NZD/USD holds a bearish tone
After Monday’s dramatic price action moves, the pair rebound and climbed above 0.6500 but yesterday lost the mentioned level. Today it approached but it never traded on top of 0.6500 while to the downside managed to hold above 0.6425/30.
NZD/USD managed to hold above Wednesday’s lows. So far it did not reach a lower low but it continues to make lower highs. A consolidation on top of 0.6500 could change the short-term bias.
From the level it finished last week, it trades 200 pips below and is headed toward the lowest weekly close since July 2009.
NZD/USD holds a bearish tone
After Monday’s dramatic price action moves, the pair rebound and climbed above 0.6500 but yesterday lost the mentioned level. Today it approached but it never traded on top of 0.6500 while to the downside managed to hold above 0.6425/30.
NZD/USD managed to hold above Wednesday’s lows. So far it did not reach a lower low but it continues to make lower highs. A consolidation on top of 0.6500 could change the short-term bias.