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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

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