FXstreet.com (Sydney) - The Kiwi recovered some of its losses against the USD last week to be trading at 74.28. Outlook for the pair is slightly bullish and the pair finds support at 0.7396 and resistance at 0.7447.
The markets in both Australia and New Zealand rose as did the Kiwi against a weak dollar. The dollar fell on news of a larger than expected trade deficit and weaker consumer sentiment. As reported in the NZ Herald, a report showing the eurozone may have exited recession in the third quarter boosted the euro against the greenback and encouraged investors to buy stocks and high-yielding currencies such as the NZ dollar.