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28 Jul 2015
NZD/USD retreats after reaching 13-day high
FXStreet (Córdoba) - Greenback pulled back across the board after the release of the consumer confidence report and pushed NZD/USD toward 0.6700 but it failed to hold and retreated.
NZD/USD rises but finds resistance at 0.6700
The pair reached at 0.6698, the strongest level since July 15 but quickly pulled back and currently trades at 0.6670/80, still up almost 70 pips for the day but it lost momentum after being unable to break above 0.6700.
The US dollar initially decline in the market after The Conference Board Consumer Sentiment Index showed an abrupt decline to the lowest level since September 2014. Afterwards it managed to recover some losses.
Commodity currencies are still in positive ground while NZD/USD is rising for the second day in a row and is testing the 0.6700 that has become a key short-term resistance, that capped the upside also last week.
NZD/USD rises but finds resistance at 0.6700
The pair reached at 0.6698, the strongest level since July 15 but quickly pulled back and currently trades at 0.6670/80, still up almost 70 pips for the day but it lost momentum after being unable to break above 0.6700.
The US dollar initially decline in the market after The Conference Board Consumer Sentiment Index showed an abrupt decline to the lowest level since September 2014. Afterwards it managed to recover some losses.
Commodity currencies are still in positive ground while NZD/USD is rising for the second day in a row and is testing the 0.6700 that has become a key short-term resistance, that capped the upside also last week.