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29 Sep 2014
NZD/USD recovers from 14-month lows
FXStreet (Córdoba) - The kiwi was falling for the third day in a row against the US dollar and was the worst performer among the most traded currencies, after falling sharply during the Asian session following reports about the RBNZ selling the currency in August.
NZD/USD bottomed on Asian hours at 0.7705, the lowest price since July, after dropping 150 pips. Afterwards rebounded and rose back above 0.7750. During the American session extended the recovery and recently reached at 0.7794, the highest price since Asian hours.
Despite rising almost a hundred pips from the lows, NZD/USD was still down almost 1% for the day, facing resistance around 0.7800.
NZD/USD bottomed on Asian hours at 0.7705, the lowest price since July, after dropping 150 pips. Afterwards rebounded and rose back above 0.7750. During the American session extended the recovery and recently reached at 0.7794, the highest price since Asian hours.
Despite rising almost a hundred pips from the lows, NZD/USD was still down almost 1% for the day, facing resistance around 0.7800.