The Kiwi is Back on the Decline: 68 in Sight - Forex News by FX Leaders

The Kiwi is Back on the Decline: 68 in Sight

Posted Friday, December 1, 2017 by
Rowan Crosby • 1 min read

The NZD/USD has been a great trade for our followers in recent weeks. The sharp fall all the way down has given us a number of short opportunities. Then this week we saw a bit of base taking shape. However, things are starting to turn once again.

It looks like the retrace was really just a pause and an opportunity to take on yet another short position. Given the downside momentum, I am expecting us to take out both the lows and 0.6800 very soon.

Below that we have even more potential for some downside, with 0.6700 being the next swing low. I think that represents an excellent risk/reward. I would be looking at selling either a break of the lows that holds or a pullback around 0.6850.

NZD

NZD/USD – 240 min Chart.
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