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13 Apr 2015
NZD/USD consolidates losses, near daily lows
FXStreet (Córdoba) - The New Zealand dollar dropped sharply against the US dollar during the Asian session following weak Chinese economic data. NZD/USD fell further on European hours and bottomed at 0.7421, level last seen back in April 1st.
From the lows the pair rebounded but the recovery found resistance around 0.7460. Currently is hovering around 0.7450, down more than 1% for the day, having the worst daily performance in a month.
NZD/USD still holds above key 0.7400
Despite the decline price still holds above the 0.7400 area. The mentioned level is a key support. At the beginning of the month it traded momentarily below but it was rejected and bounce to the upside. The mentioned zone remains exposed as the pair consolidates significantly below 0.7500, a price zone area that offered support last week.
From the lows the pair rebounded but the recovery found resistance around 0.7460. Currently is hovering around 0.7450, down more than 1% for the day, having the worst daily performance in a month.
NZD/USD still holds above key 0.7400
Despite the decline price still holds above the 0.7400 area. The mentioned level is a key support. At the beginning of the month it traded momentarily below but it was rejected and bounce to the upside. The mentioned zone remains exposed as the pair consolidates significantly below 0.7500, a price zone area that offered support last week.