From the FXWW Chatroom – NZD is rummaging around in a familiar range against the USD. The broader NZDUSD range to respect is 6690-6820. Most activity can be seen against the crosses with weakness against the GBP (Positive Brexit news), offset by strength against the CAD and AUD (Oil price sensitive commodity currencies). Of most interest is the NZDAUD rally which is pushing toward large trend resistance at 9450 and defying many fundamentals. FIFX favour fading this rally, looking for a medium term move back toward 90 cents and in line with fundamentals
View the latest market information in the FXWW Chatroom with a free trial.