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2 Apr 2015
NZD/USD at session lows, dairy auction weighs
FXStreet (Bali) - NZD/USD is trading on a heavy tone along Asian hours, breaking through intraday support at 0.7450, hitting some stops, and printing its lowest at 0.7432, with another dismal Fonterra auction result weighing on Kiwi sentiment this morning.
Jim Langlands, Founder at FXCharts, notes: "Today will probably be one for licking wounds on both sides of the market and a quiet day of position squaring ahead of Easter would not surprise. The points to watch are at 0.7420 (minor) and then at the day’s low at 0.7390. The topside will see interested sellers at 0.7480 and then again at 0.7500."
Jim Langlands, Founder at FXCharts, notes: "Today will probably be one for licking wounds on both sides of the market and a quiet day of position squaring ahead of Easter would not surprise. The points to watch are at 0.7420 (minor) and then at the day’s low at 0.7390. The topside will see interested sellers at 0.7480 and then again at 0.7500."