Thursday, May 28, 2015

The 0.7100 level could be the next support on the Kiwi

The New Zealand Dollar versus the US Dollar, also known as the Kiwi, continues dropping and it looks like the price is trying to reach its next round number support level at the 0.7100. On the daily chart of the NZD/USD we can see that the pair has had a good sustainable downtrend, mostly due to strength in the US Dollar. But the 0.7100 level could act as a good support and price may stall there or try to bounce to the upside. Therefore, we must be attentive to a possible visit to the 0.7100 level on the Kiwi.


at

9 comments:

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...

  • The USD/CAD in consolidation mode
    The USD/CAD gets tangled between the 21 day EMA and the 55 day EMA, also between the 1.2800 and the 1.3000. From this point the pair may go...
  • Gold continues consolidating
    The price of gold is still consolidating as shown on the daily chart between the 1281 as support and the 1304 as resistance. At the 1304 lev...
  • Pullback to a key level on the EUR/USD
    The EUR/USD has been very volatile lately, but it has not taken a clear a direction. The pair has been consolidating between the 1.2300 leve...