Header help text

Start trading with a free $30

There is no better time than now
Your first deposit is on us

Grab your $30 from XM

Top Stories
by ForexNewsNow Team on November 30th, 2010

Kiwi falls against dollar as investors avoid risks over euro fears

NEW YORK (Forex News Now) – The New Zealand dollar fell against the greenback on Tuesday, as the continuing effects of the euro zone debt crisis kept investors from taking risks.

In late Asian currency market trading at around 9:30 A.M., GMT, NZD/USD was trading at 0.7416, after opening the day at 0.7459.

The kiwi is considered a risk-sensitive currency, the type that investors are shying away from over fears that Portugal and Spain will be the next European countries to require a bailout after a package worth 85 billion euro for Ireland was approved.

According to NZD/USD analysis, the kiwi was likely to touch support around 0.7303, the low from Sep. 30, and hit resistance around the Oct. 25 high of 0.7561.

Elsewhere, the Aussie also fell against the greenback: AUD/USD traded at 0.9572, down from an opening price of 0.9631.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))