Yahoo Finance NZD/USD Price Forecast February 13, 2018, Technical Analysis
The New Zealand dollar has pulled back initially during the trading on Monday, but it looks like the buyers are trying to come back into the marketplace and rally a bit. The Kiwi dollar continues to be highly sensitive to risk, so pay attention to the commodity markets. They look as if they are trying to build up momentum to the upside, but of course there is going to be some choppiness. When you look at the chart, you can clearly see that somewhere near the 0.7250 level there is a bit of a “flip” in the marketplace over the last several sessions, so I think if we can make a “fresh new high”, the New Zealand dollar should continue to go higher, perhaps reaching towards the 0.7350 level again. I also recognize that the 0.72 level underneath has offered support, and while it’s early going, it looks as if we are trying to form a bit of an uptrend in channel.
As I record these videos today, it looks as if the US dollar is starting to get a bit of selling pressure. If that continues, I suspect that the commodity currencies such as the Kiwi should continue to benefit. However, if we get some type of shock or surge of fear in the stock markets, that will probably affect this pair as well. Keep that in mind, but I think that the value hunters have come back out after last week’s negativity.
NZD/USD Video 13.02.18
This article was originally posted on FX Empire
