12 Feb 2015
NZD/USD retreats from 2-week highs
FXStreet (Córdoba) - NZD/USD climbed after Wall Street opening bell to 0.7485, boosted by a weak US dollar and amid risk appetite but then retreated and trimmed gains. The pair pulled back to 0.7425 and it was trading at 0.7430, up 0.70% for the day.
Important reversal
Earlier the kiwi dropped to the lowest level in more than a week against the US dollar, after breaking below 0.7330 and fell to 0.7313. But then reversed sharply and climbed more than 150 pips from the lows, hitting the strongest level since January 28.
The pair failed so far to hold above an important short term resistance located around 0.7450. If it manages to end the day above, it would post the strongest close in three weeks.
Important reversal
Earlier the kiwi dropped to the lowest level in more than a week against the US dollar, after breaking below 0.7330 and fell to 0.7313. But then reversed sharply and climbed more than 150 pips from the lows, hitting the strongest level since January 28.
The pair failed so far to hold above an important short term resistance located around 0.7450. If it manages to end the day above, it would post the strongest close in three weeks.