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The NZD/USD pair fell for the week as the 0.82 level held as resistance. The pair formed a relatively benign candle, although it was red in the end. The jobs number out of New Zealand was dismal, so this may be why the Kiwi is currently underperforming the Aussie.
The pair looks healthy overall though, and as such we aren’t willing to sell it at the moment. The breaking of the highs from this past week would have us buying however, as we think a run to the 0.84 handle may be in store. With the Federal Reserve expected to start easing again in September, selling a commodity currency isn’t a good idea in our opinion.