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.


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