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Kiwi On Track For Seventh Consecutive Weekly Loss

NZD

Selling pressure hit NZD/USD on Thursday as concerns about China's COVID-19 situation continued to weigh on risk sentiment in Asia. The rate bottomed out at $0.6217, its worst level since Jun 1, 2020.

  • The pair last deals at $0.6235, little changed on the day. The next bearish target is located at $0.6169, which represents the low print of May 29, 2020. Bulls need a rebound above May 11 high of $0.6380 before targeting May 5 high of$0.6568.
  • New Zealand's BusinessNZ M'fing PMI will be published at the bottom of the hour.
  • Next week's highlights include PPI (Thursday) as well as trade balance & credit card spending (Friday).
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Selling pressure hit NZD/USD on Thursday as concerns about China's COVID-19 situation continued to weigh on risk sentiment in Asia. The rate bottomed out at $0.6217, its worst level since Jun 1, 2020.

  • The pair last deals at $0.6235, little changed on the day. The next bearish target is located at $0.6169, which represents the low print of May 29, 2020. Bulls need a rebound above May 11 high of $0.6380 before targeting May 5 high of$0.6568.
  • New Zealand's BusinessNZ M'fing PMI will be published at the bottom of the hour.
  • Next week's highlights include PPI (Thursday) as well as trade balance & credit card spending (Friday).