NZ Dollar Slides To 1-week Low Against Yen

02:55, 10th August 2012

(RTTNews) - Extending its early Asian session's downtrend, the New Zealand dollar reached a 1-week low of 63.52 against the yen around 2:40 am ET Friday.

The yen outperformed across the board on increasing safe-haven flows into it as worse-than-expected Chinese July trade data reignited worries about global growth outlook.

The kiwi-yen pair is now heading towards the neck-line of a double-top reversal formation in the daily chart with 63.20 seen as the near-term support and 61.0/61.30 area seen the neck-line support.