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5 Jan 2015
NZD/USD heavy en-route to 0.76
FXStreet (Bali) - NZD/USD has accelerated its losses by printing its lowest since Dec 9 2014 at 0.7620, just a whisker away from its trend low at 0.7609.
The main NZD mover for this week will come on Tuesday, when Fonterra is due to publish its latest GDT Price Index. As per the USD, there are two key events likely to inject solid volatility, one being the Fed minutes ahead of US NFP.
Technically, NZD/USD needs to break below 0.7609 and 0.76 to open the doors for deeper declines towards 0.7550 ahead of 0.7500, with any recovery likely to meet varies layers of strong offers, with sellers set to remain well in control near term as long as 0.77/7710 defended.
The main NZD mover for this week will come on Tuesday, when Fonterra is due to publish its latest GDT Price Index. As per the USD, there are two key events likely to inject solid volatility, one being the Fed minutes ahead of US NFP.
Technically, NZD/USD needs to break below 0.7609 and 0.76 to open the doors for deeper declines towards 0.7550 ahead of 0.7500, with any recovery likely to meet varies layers of strong offers, with sellers set to remain well in control near term as long as 0.77/7710 defended.