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23 Feb 2015
NZD/USD holds above 0.7500
FXStreet (Córdoba) - NZD/USD managed to recover after falling below 0.7500 during the European session amid a retreated of the US dollar across the board.
NZD/USD rebounds
Earlier the pair dropped to 0.7486, reaching the lowest price since February 17 but quickly rebounded and recently reached a new daily high at 0.7545. Currently trades around 0.7525/30, slightly above Friday’s closing price.
The pair continues to move sideways around 0.7520, without a clear short-term trend, while on a wider perspective the bias looks bullish, with price correcting higher after dropping to multi-year lows early February. The strength of the corrective move has diminish during the last few trading days after being unable to consolidate above 0.7550.
NZD/USD rebounds
Earlier the pair dropped to 0.7486, reaching the lowest price since February 17 but quickly rebounded and recently reached a new daily high at 0.7545. Currently trades around 0.7525/30, slightly above Friday’s closing price.
The pair continues to move sideways around 0.7520, without a clear short-term trend, while on a wider perspective the bias looks bullish, with price correcting higher after dropping to multi-year lows early February. The strength of the corrective move has diminish during the last few trading days after being unable to consolidate above 0.7550.