Kiwi Under Pressure: Get Short at 72 Cents - Forex News by FX Leaders

Kiwi Under Pressure: Get Short at 72 Cents

Posted Tuesday, September 5, 2017 by
Rowan Crosby • 1 min read

I’ve been bearish on the NZD for a few weeks now and as I mentioned yesterday it’s one of my favourite trades at the moment. The Kiwi has sold off all the way down from 75 cents and is now pushing below 0.7200.

The next key downside target for me is 0.7100. If we can spike into 0.7200 then I think we are setting up for a nice leg lower. I suspect we might get some USD strength which can potentially spark this trade even further.

There’s also a nice downtrend that I have my eye on which adds to the overhead resistance at 0.7200.

Kiwi

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

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.
Related Articles
Comments

Leave a Reply

avatar
  Subscribe  
Notify of