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FxWirePro: NZD/USD retraces gains, dips below 0.65 handle

"Risk-on" seen in the FX market despite Shanghai opening more than 5% lower Antipodean currencies saw some pullback tracking a bounce in the commodity prices on Tuesday Kiwi bounced in early trade today, having plummeted…

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EconoTimes — Reading the Times. Understanding the Future.

  • "Risk-on" seen in the FX market despite Shanghai opening more than 5% lower

  • Antipodean currencies saw some pullback tracking a bounce in the commodity prices on Tuesday

  • Kiwi bounced in early trade today, having plummeted 3 percent overnight when it also touched a six-year low of $0.6200

  • However gains were capped at 0.6540, NZD/USD retraced from day's highs to currently trade at 0.6495, below the 0.65 handle

  • Next immediate hurdle is located at 0.6541 (Day's High), above which it could extend gains 0.6586 (Aug 17 High) levels

  • To the downside immediate support might be located at 0.6452 (Day's Low) further below at 0.6400

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