NZD/USD hits fresh lows under 0.6300

By FXStreet FXStreet (Córdoba) – NZD/USD broke below previous lows and dropped to 0.6297, hitting the lowest level since last Tuesday. The pair then rose back above 0.6300 and it was trading at 0.6305/10, down 1.55% for the day.

The kiwi has been moving with a bearish bias since Friday’s American session. Price peaked last week at 0.6455 (2-week high) and since then it has fallen constantly. Now it is trading below the level it had when the Federal Reserve announced that it was keeping rates unchanged.

Greenback is rising across the board, even against commodities despite the recovery in crude oil prices. Stocks in Wall Street are rising: the Dow jones is up 0.65%, the Nasdaq 0.33% and the S&P 0.50%. European markets finished with gains.

NZD/USD levels to watch

So far the pair has been able to hold above 0.6300, a consolidation under 0.6290 could open the doors for a bigger slide; below the next support are might lie at 0.6265 followed by 0.6240/45 (Sep 7 low). On the opposite direction, residence might be seen at 0.6335, 0.6365 (European session high) and 0.6400 (daily high).
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Source:: FX Street