18 May 2015
NZD/USD breaks below 0.7400
FXStreet (Córdoba) - The kiwi continued to slide across the board after the New Zealand government announced a new capital gain tax on residential property investments and amid speculation about a rate cut by the central bank in the coming meetings.
NZD/USD stated the week with a bearish gap around 0.7445 and dropped further. On European hours, broke below 0.7400 and bottomed at 0.7380 reaching the lowest level since last Wednesday. The pair remains below 0.7400, still under pressure.
NZD/USD technical levels
To the upside, resistance levels might now lie at 0.7410, 0.7455 and 0.7495 (May 15 high). On the opposite direction support could be located at 0.7380 (daily low), 0.7345 and 0.7315 (May 12 low).
NZD/USD stated the week with a bearish gap around 0.7445 and dropped further. On European hours, broke below 0.7400 and bottomed at 0.7380 reaching the lowest level since last Wednesday. The pair remains below 0.7400, still under pressure.
NZD/USD technical levels
To the upside, resistance levels might now lie at 0.7410, 0.7455 and 0.7495 (May 15 high). On the opposite direction support could be located at 0.7380 (daily low), 0.7345 and 0.7315 (May 12 low).