Forex – Kiwi slips lower as greenback recovers


Kiwi falls against stronger greenback Kiwi falls against stronger greenback – The New Zealand dollar slipped lower against its U.S. counterpart on Tuesday, as the greenback regained some ground after losses caused by Friday’s U.S. jobs data and as markets eyed comments by Reserve Bank of New Zealand Governor Graeme Wheeler the next day.

NZD/USD hit 0.7728 during late Asian trade, the pair’s lowest since November 7; the pair subsequently consolidated at 0.7723, sliding 0.32%.

The pair was likely to find support at 0.7658, the low of November 7 and a two-and-a-half year low and resistance at 0.7846, the high of November 5.

The greenback regained ground after falling in the previous two sessions after Friday’s softer than expected U.S. jobs report prompted investors to book profits in the greenback.

The kiwi was lower against the Australian dollar, with AUD/NZD edging up 0.19% to 1.1142.

Also Tuesday, the National Australia Bank said its business confidence index ticked down to 4 in October from a reading of 5 the previous month.

Source By Breaking News Website | BreakingNews.WS