A week of watching the Kiwi

Morning Dynamic Traders,

Hope you had a good weekend.

On Friday the Kiwi closed not far from where it opened. You can see on the hour chart below that price continued to drop until it hit a strong Support/Resistant line at a key RN, then price began to strengthen.














I would like to conclude how the NZDUSD behaved over the week.

It’s been an interesting week following the Kiwi. There hasn’t been a big movement in price over the week, but a shorting position would definitely be the approach to have taken.

Below is an hour chart, and as you can see from where the week began and ended it has been in a down trend. We can also clearly see 2 days where the price was oscillating and not sure which direction to take.













This may not have been the best currency pair to trade last week, because of the lack in movement in price over the week. The NZDUSD would also have needed a lot of attention when managing the trade to make sure that you didn’t lose any profits you might have made.

This week we will follow a different currency pair, which hopefully has more movement.

Happy Trading.