by Thu, 16 Sep 2010 07:13:00 +0200
Forex: NZD/USD extends its decline toward 0.7240
FXstreet.com (Córdoba) - The Kiwi continues to weaken after the RBNZ announced its decision to keep the cash rate unchanged at 3.0% earlier today.
After the initial reaction, NZD/USD kept heading down and has reached a fresh 4-day low at 0.7238 after being as high as 0.7354 on Wednesday. At the time of writing, NZD/USD is quoting at 0.7240 where it is 0.92% lower since opening.
NZD/JPY has dropped around 120 pips from yesterday’s peak at 62.93 to the 61.70 area. Currently the pair is trading at 61.85, 1.26% below its previous close.
| Technical Analysis (2010-09-16 05:00 GMT) | |
|---|---|
NZD/USD 0.7245/0.7247 - O: 0.7319 H: 0.7323 L: 0.7311 C: 0.7316 | |
| Trend | R3: 0.7289 |
 | R2: 0.7271 |
| R1: 0.7253 | |
| S1: 0.7207 | |
| S2: 0.7225 | |
| S3: 0.7243 | |
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