Has the Kiwi Found Support?

The Kiwi was the big mover yesterday, falling all the way down to 72 cents. Earlier the New Zealand Governemnt came out with some concerns

Written by: Dime Levov • Thursday, August 24, 2017 • 1 min read

• Last updated: Thursday, August 24, 2017

The Kiwi was the big mover yesterday, falling all the way down to 72 cents. Earlier the New Zealand Governemnt came out with some concerns on the economy and that combined with a stronger USD hit the NZD/USD hard. We slid quickly to 72 cents but overnight as the USD weakened, we found some support.

In the short term I'd be looking for a little bit of a retrace, ahead of Jackson Hole but don't expect big things on what appears to be a quiet day.

NZDUSD Support