FXstreet.com (Sydney) - The Kiwi continued its correction against the USD and is trading at 0.7380. The pair opened at 0.7458 dropping throughout the session to current levels. This represents a fall of over 1% for the day. Support can be found at 0.7356, resistance at 0.7410 and the pair is considered slightly bearish.
The Kiwi fell after weak housing data in the US signalled the return of risk aversion. The Kiwi is regarded as a high-yielding, risk currency and fell in line with high yielding commodities on Wall Street. The Dow Jones industrial average fell 0.1%.