What’s the Best Time to Sell the Kiwi?
Rowan Crosby•Tuesday, October 24, 2017•1 min read
The NZD/USD has been one of the weakest performers over the last few trading sessions. Since their new Government finally came together, markets have given the New Zealand currency a massive whack.
When we see this type of momentum, I’m looking to go with it. I don’t want to try and be picking the bottom that’s for sure.
As such, I keep an eye on key levels that I think might be good for shorting and then watch the price action. Today the one of interest is clearly going to be 0.7000. That might be enough to put a roof on the Kiwi. If not then 0.7035. As it stands we have an open sell signal out on the Kiwi, which suggests this one is ripe for another move lower.
NZD/USD – 240min Chart.
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ABOUT THE AUTHOR
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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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