Forex: NZD/USD grinds deeper in red
Forex pairs in this Article » NZD/USD
FXstreet.com (San Francisco) - NZDUSD extended another leg lower Wednesday, breaking below dynamic support at 0.8035 (55-day EMA) and below Fibonacci support at 0.8041 (23.6%, 0.7456/0.8221) to slide as low as 0.8014, a price not seen since July 27. At the time of writing, price is quoted at 0.8020, set to close the North American session with a fifth consecutive day of losses, and with a fourth day of printing lower lows and lower highs. The 100-day EMA lies just below market at 0.8005, which may attract buyers should the downward momentum persist in the sessions ahead.