FXstreet.com (Sydney) - The Kiwi lost ground against the dollar and is now trading at 0.7263. The Kiwi fell in line with the Aussie after opening at 0.7324 hitting an intraday low of 0.7253. The NZD/USD is considered slightly bearish and finds support at 0.7201 and resistance at 0.7265.
The NZD fell against USD after negative economic news was released in Australia. The level of business investment fell unexpectedly in Australia during the September quarter to 3.9%. This is despite having risen the previous quarter. This may mean that the reserve bank is less likely to increase interest rates in December. The fall of the Kiwi also signalled the return of risk aversion.