Is the Kiwi Setting Up for a Fall?
Rowan Crosby • 1 min read
For a while there the Kiwi was really struggling against most currencies. However, in the last week or so, it’s managed to turn things around and find its feet. But is this just a pause in what’s a longer term down move?
On the 240-minute chart, we have found a bit of a range and price is working its way up a trendline. However, there is a bearish undertone. If we can break the trendline we have a chance to crack 72 cents once again.
If we pull back up to the top of our channel that is also another chance to sell as we near 0.7350. Both trades are bearish, as that’s the overall feel I have for the Kiwi at the moment.