Forex: NZD/USD drifts down, move away from risky assets
FXstreet.com (London) - Gold shed $3 some of yesterdays gains today, coming off 2010 highs, down $8 from the high to trade at $1117. The initial flurry of optimism has ceded slightly as sentiment moves to risk aversion. This session Gold has paused, flat to the open and consolidated current level. Kiwi has traded slightly on the downside, lower 16 pips.
The Kiwi currently trades at 0.7319 against the Dollar. Pair will likely consolidate in range later this session in the absence of major macro cues. Move in sentiment, away from riskier assets has damaged higher yielding currencies such as NZD and AUD.
Should the pair move to the upside take primary resistance as 0.7343, and for primary support at 0.7275 (consolidation zone 4 Jan).