Monday, June 22, 2015

How low can the Kiwi drop?

The New Zealand Dollar continues weakening versus the US Dollar, especially on a day like today when the Dollar has been gaining a lot of strength versus its main counterparts. It is possible that the pair keeps its bearish trend, due to the fact that the Reserve Bank of New Zealand is currently easing on its monetary policy while the FED is thinking about raising its interest rates for this year. The next important support for the NZD/USD could be the 0.6800 level. A visit to that level may cause the price to stall there, but we must keep in mind that the bearish trend is still in place.


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