Keeping an eye on the Kiwi

Morning Dynamic Traders.

I have decided this week to concentrate on one currency pairing, so that we can get an understanding of what happens to the price and why the changes are being made.

I have chosen to follow the kiwi so that we can see what happens following my update last week.
With a quick glance at the chart we can see that USDNZD is currently in a downtrend.

You can see on Monday last week the price hit a Resistance/Support at a RN and then took a turn and has dropped.

Making money from the drop in price might have been a bit tricky, but capitalising on profits from the increase in price from 0.5000 would have been far easier with convergence from the MACD.














It will be interesting to see what events happen today and what that does to our chart.

Happy trading.