Open Demo Account
Home / Market Update / Forex Market / NZD/USD Erases Last Week Gains Below 0.6666

NZD/USD Erases Last Week Gains Below 0.6666

M. Ali 22 September, 2020 12:06 am Forex Market, Market Update

The New Zealand Dollar (NZD) registered huge losses on Monday, as the US Dollar (USD) rebounded with large gains and investors showing increased risk avoidance.

After rising to its higher level in a year and a half by the end of last week, the NZD/USD pair erased its gains earlier in the day.

NZD/USD is close to finishing lower by 1.39% for the day at 0.6665.

This is the worst performance for the Kiwi since the beginning of the COVID-19 crisis in March.

The pair has been moving today between 0.6652 and 0.6778, after opening at 0.6752.

It is worth noting that NZD/USD closed last week at 0.6759.

Support Levels: 0.6737 – 0.6715 – 0.6685

Resistance Levels: 0.6789 – 0.6819 – 0.6841

Tags

Check Also

Dollar’s Strength Pushes Yen to 38-Year Low, Investors Eye Fed Chair’s Speech

The U.S. dollar continued its upward trajectory on Tuesday, bolstered by rising U.S. Treasury yields, …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends