Thursday, 25 April 2019

Kiwi(NzdUsd) Reaches 2019 Lows as US Dollar Rises



This week we have seen a lot of movement in the market place including some major strength on the US dollar index causing most dollar pairs to rally and other to plummet. most have broken their long time highs and low as the the dollar made a break above its yearly resistance zone.

The AudUsd and the NzdUsd have rushed back down to reach their lows this week after the dollar opened in a positive bullish tone which is much boosted by the CAD weakness this week as the Central Bank of Canada has abandoned its bias to increase interest rates this year giving dollar strength and causing more weakness on the CAD. the NzdUsd has surprisingly rushed back to its 2019 low yesterday and according to our analysis on the pair we will likely to see it plummet below this years lows to create new lows.

NzdUsd Technicals

Looking at the daily chart will give a proper understanding on the Kiwi as price shows a clear sell off that has been happening in the past days.



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Sifiso Nkwanyana

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