More Opportunities to Sell the Kiwi

The Commodity Currencies like the AUD, NZD and CAD have been very good to us over the last few weeks. There is a really nice trend in place, especially in the Kiwi and Aussie and we have been riding that for all it’s worth.

At the moment we have a sell signal out on the NZD/USD with a profit target of 0.6800 cents. That said I think we can identify a few nice levels to look at further shorts. I want to be riding this trend until the very end.

0.6835 which is around the current level is a great spot as this is support turned resistance. Above that, the 0.6870 level is another support/resistance level where we also have the 50-SMA on the 4-hour chart. So that might be another point that I would explore.

But remember the USD is in-play during the US session as we have the FOMC minutes which are due for release.

NZD/USD – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

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