NZD USD stays under pressure
10/26/2016 7:05:48 AM
Broad based USD recovery expands into Europe among risk-off markets, taking a toll on the NZD/USD pair among central banks’ policy discrepancy.
Currently, the NZD/USD pair trades -0.08% lower at 0.7160, unable to raising the recovery above 0.7170 levels. The NZD/USD pair stays under pressure as we head into Europe among common risk-off moods, according to reducing stocks and oil prices.
Furthermore, repeated request for the dollar across the board also weighed rather on the Kiwi, as monetary policy discrepancy between the Fed and RBNZ carry on to reduce the sentiment behind the NZD.
To the upside, the next persistence is placed at 0.7190, above which it could expand gains to 0.7210 and from there to 0.7240. To the downside immediate support might be located at 0.7100 and from there to at 0.7080, below which 0.7040 would be tested.