- NZD / USD recovers from weekly lows, remains below 0.7200.
- The NZD / USD recovers from lows amid an improvement in risk sentiment.
He NZD / USD is falling for the third day in a rowas it continues to correct down from multi-year highs. The pair bottomed after the start of the American session at 0.7145, coinciding with the 20-day moving average.
The pair has rebounded from lows when Wall Street indices recovered losses and after the dollar lost momentum across the board. Still, the USD is among the best performing currencies on Monday supported by higher returns in the United States. 10-year Treasuries came in above 1.08%, the highest level since March.
In United States, the focus is still on politics. Democratic lawmakers continue to pressure Vice President Pence to remove President Trump’s powers under a constitutional amendment.
From a technical perspective, the NZD / USD continues to correct lower. Bounce from 0.7145 to 0.7185 has eased downward pressure in the short term. A consolidation below 0.7160 it would open the door to further weakness. On the upside, the NZD / USD needs to regain the zone of 0.7250 to be able to look again at the area of 0.7300.
NZD / USD technical levels
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