The New Zealand dollar fell most of last week against the US dollar, but as you can see, we have recovered quite nicely. The question now is whether or not the support will hold. If we were to turn around and break down below the 0.68 level, it is likely that this market will fall apart quite drastically. However, if we end up turning around and breaking above the 0.70 level, that could be a bit of a turnaround. It will be interesting to see how this plays out, because this market is almost like a microcosm of what we see everywhere else: lots of choppy behavior without any real clarity.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.