- NZD/USD remains under some selling for the third straight day and drops to over a one-week low.
- The mixed Chinese inflation figures and a mildly softer USD fail to lend any support to the major.
- The fundamental backdrop suggests that the path of least resistance for the pair is to the downside.
The NZD/USD pair trades with a negative bias for the third successive day on Friday and touches a fresh weekly low, around the 0.5920-0.5915 region during the Asian session. Spot prices remain on the defensive following the release of Chinese inflation figures and seem vulnerable to prolonging the recent sharp retracement slide from the 0.6055 area or over a two-month peak touched on Wednesday.
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