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20 May 2015
NZD/USD trims losses after Fed minutes
FXStreet (Córdoba) - NZD/USD recovered ground modestly after the release of the FOMC minutes that failed to give certainty about the date of the first rate hike.
NZD/USD fresh low and rebounds
Immediately after the Fed report the pair dropped to 0.7280, hitting a fresh 2-month low but then rebounded and climbed to 0.7334, where the hourly 20-SMA capped the upside.
Currently trades at 0.7320, as it holds some bullish tone and above 0.7300, still down for the day and about to suffer fifth decline in a row. From the level it had seven days ago it trades 200 pips lower.
Greenback lost strength after the minutes showed that only a few members anticipated that would support a June rate hike, while many participants thought that was unlikely. The different views support expectations that the liftoff could occur later than June or even September.
NZD/USD fresh low and rebounds
Immediately after the Fed report the pair dropped to 0.7280, hitting a fresh 2-month low but then rebounded and climbed to 0.7334, where the hourly 20-SMA capped the upside.
Currently trades at 0.7320, as it holds some bullish tone and above 0.7300, still down for the day and about to suffer fifth decline in a row. From the level it had seven days ago it trades 200 pips lower.
Greenback lost strength after the minutes showed that only a few members anticipated that would support a June rate hike, while many participants thought that was unlikely. The different views support expectations that the liftoff could occur later than June or even September.