Forex Trading: NZD/USD Has Continued To Move Lower

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Forex Trading: NZD/USD Has Continued To Move Lower

By Greg Michalowski on January 14, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The NZD/USD has continued to move lower today on the back of the worries about country risk due to sharply lower global growth and expectations of a worsening of the current account balance for the country. The downgrade in Greece’s rating certainly has not helped the sentiment for the pair.

The NZD/USD has moved to the lowest level since December 10th. The low for the move in 2008 has been 0.5188. This is the next longer term target for the pair. On the upside, yesterday’s low was 0.5458. This level should find sellers against it if the pressure is to remain.

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