NZD/USD rises back above 0.8600

FXStreet (Córdoba) - The NZD/USD recovered ground during the American session and rose back above 0.8600, reaching 0.8636. Currently is hovering around 0.8630, moving in a range between 0.8620 and 0.8635.

The Kiwi weakened yesterday after the release of inflation data from New Zealand and bottomed at 0.8577, lowest level since April 4 but then trimmed losses.

NZD/USD rebounds from key level

The Kiwi finished lower for the second day in a row against the US dollar but it was able to hold above a key level. For a few minutes the NZD/USD traded below an ascendant daily trendline originated last February but rose back above. Currently the line stands around the 0.8600 mark.