NZ Dollar Weakens Against Majors

NZ Dollar Weakens Against Majors




The New Zealand dollar fell against other major currencies in early European deals on Monday.
The kiwi fell to a 4-day low of 1.2654 against the aussie, compared to last week's close of 1.2597. On the downside, the kiwi may target 1.27 level.
The kiwi that closed last week's trading at 66.66 against the yen and 0.8240 against the greenback touched 5-day lows of 65.94 and 0.8175, respectively. The next downside target level for the kiwi is seen at 65.5 against the yen and 0.815 against the greenback.
Against the euro, the kiwi slipped to 1.5925 from last week's close of 1.5885. If the kiwi drops further, it may target 1.60 level.



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