What is going on with NZD today

lordgeorge

Newbie
9 0
Can anyone offer an explanation for it falling pretty hard,
especially against the Euro, eur/nzd has been in a pretty solid uptrend the past couple of days
I can understand that it might have just broken out of the range on NZD/USD,
and I know the CAD rate cut may have had an effect,
what is the relationship between NZD and CAD, is it a risk appetite thing ??
 

fxstrategist

Established member
604 16
The NZDUSD is very close to touching the 0.7400 level, which could act as a good support. If the pair retraces to the upside, then the 0.7600 could act as resistance.
 

tomorton

Legendary member
8,403 1,338
Well spotted fxstrategist. Best intraday high made 0.7616, nearest close to 0.76 so far was 0.7588.

Maybe we can expect another attempt at the 0.76 level?
 
 
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