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25 Jul 2014
NZD/USD: No signs of dip buyers...
FXStreet (Bali) - NZD/USD continues to trade depressed circa 0.8570 day lows, hammered more than 120 pips lower after the RBNZ communicated a pause to its tightening cycle on Thursday.
"RBNZ announcement of a pause in their interest rate cycle and heightened language from the Central bank spooked the market on possible future intervention", notes Peter Fell, Analyst at FXBeat.
Peter adds: "Support seen at 8568, 61.8% fibo on the 8402 / 8836 rise, below there, trend-line support off the February low comes in at 8545."
"RBNZ announcement of a pause in their interest rate cycle and heightened language from the Central bank spooked the market on possible future intervention", notes Peter Fell, Analyst at FXBeat.
Peter adds: "Support seen at 8568, 61.8% fibo on the 8402 / 8836 rise, below there, trend-line support off the February low comes in at 8545."