NZD/USD chart - Trading View
NZD/USD dives over 1.50% on the day and was trading at 0.7025 at around 09:50 GMT.
Weakening global risk sentiment triggered a sharp pullback in the equity markets and other risk assets.
The pair opened with a bearish gap on the first day of a new trading week in reaction to fresh COVID-19 jitters.
Concerns over the coronavirus contagion have intensified after a new covid strain was found in the UK.
Fresh coronavirus jitters overshadowed the optimism over the long-awaited $900 billion US coronavirus aid package and an emergency use approval for Moderna's COVID-19 vaccine.
Risk-off flows boosted the US dollar's relative safe-haven status and further contributed to downside in the pair.
Price action has slipped below 21-EMA and 200H MA, scope for further downside. 50-DMA is strong support at 0.6864. Breach below eyes daily cloud.
