Kiwi is among the worst G10 performers on Monday, affected by risk aversion. NZD/USD reverses sharply from highest in over a year, erases last week gains. The NZD/USD is having the worst day since March on Monday, making a reversal after trading on Friday at the highest since March 2019. In a few hours, it erased all of last week gains. Recently bottomed at 0.6650, the lowest level in more than a week. The kiwi is the biggest loser in the G10 space on Monday. Risk aversion and the fact that last week it outperformed, is affecting NZD significantly. Also technical factors are playing a role. In the US, the Dow Jones falls 810 points or 2.95% and the S&P 500 declines 2.15%. Commodities area also sharply lower with the WTI barrel falling 5% and gold 3%. The key event ahead for the NZD/USD is the Reserve Bank of New Zealand meeting on Wednesday but it could be offset by current market volatility if persists. Technical levels From a technical perspective, the NZD/USD is back under the 20-day moving average, ending a six-day winning streak. The momentum now favors more losses ahead. Below 0.6650, the next support stands at 0.6635 followed by the September low at 0.6600. On the upside, 0.6715 is again a resistance level to take into consideration. On a wider perspective, NZD/USD needs to break and consolidate above 0.6800 to clear the way to more gains. The trend is still bullish but the short-term bias, if the current decline is confirmed, will point to some consolidation ahead. More levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold: Close below $1,920 would look to be a warning of a deeper correction – CitiBank FX Street 2 years Kiwi is among the worst G10 performers on Monday, affected by risk aversion. NZD/USD reverses sharply from highest in over a year, erases last week gains. The NZD/USD is having the worst day since March on Monday, making a reversal after trading on Friday at the highest since March 2019. In a few hours, it erased all of last week gains. Recently bottomed at 0.6650, the lowest level in more than a week. The kiwi is the biggest loser in the G10 space on Monday. Risk aversion and the fact that last week it outperformed, is affecting NZD significantly. Also… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.