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Forex: NZD/USD lowerahead of tax reform announcement

Tue, Feb 9 2010, 04:08 GMT
http://www.fxstreet.com

FXstreet.com (Sydney) – The NZD lost recent gains against the dollar is trading at 0.6845. Earlier, the pair opened at 0.6826 and has been as high as 0.6855. The pair finds support at 0.6824, resistance at 0.6871 and is considered slightly bullish.

The NZD eased slightly ahead of an announcement by Prime Minister John Key concerning tax reform. While it is not expected that the currency will be majorly affected by this announcement it will nonetheless have some impact. The Kiwi is however caught up in negative sentiment on the global economy and risk aversion.

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