The Kiwi resumed the upside against the Dollar after moving in ranges for a few days and reached a new record high at 0.8572. NZD/USD broke above 0.8505 and jumped to the upside.
“The NZD/USD pair fell on Monday, but bounced towards the end of the day again as it appears the uptrend simply is too strong to cause any significant drop in price for more than a few hours. The pair is a bull pair, and buying is the only thing to do. We like buying this pair on dips, and will not sell it,” the Forex mansion Team said.
So far, the pair is rising for the fourth consecutive week in a row. In the last seven days it has risen 450 pips.
The Kiwi is outperforming the Aussie and the Loonie. AUD/NZD fell below 1.2500 and bottomed at 1.2478, the lowest price in 11 months while NZD/CAD reached earlier at 0.8147 the highest price since 2008.
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