What is going on with NZD today

[lordgeorge]

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]

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.

 

[Forexaxe]

A currency pair to keep an eye on is the Aud/Nzd it reached its all-time low a week ago!

 

[tomorton]

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?