NZD/USD Forecast March 20, 2017, Technical Analysis

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Updated: Mar 18, 2017, 06:08 GMT+00:00

The New Zealand dollar rallied on Friday, breaking above the 0.70 level again. In this area of consolidation, there could be some decisions made. I still

The New Zealand dollar rallied on Friday, breaking above the 0.70 level again. In this area of consolidation, there could be some decisions made. I still believe that the New Zealand dollar is going to trail the Australian dollar, and therefore I don’t prefer trading this market. They do tend to mimic each other, but certainly the Australian dollar looks like it’s much healthier. Because of this, I’m stepping to the side when it comes to the Kiwi dollar. Given enough time, I do think that we will have to make a decision but right now I’m not willing to put money to work.

NZD/USD Video 20.3.17

About the Author

Christopher Lewisauthor

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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