Nick Nasad
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NZD/USD: Bounce off Short Term Bottoming Action

The Kiwi daily chart looks very interesting.


  • The NZDUSD is in the midst of a downtrend, but has found some support near 0.8115.
  • The  last 2 daily candles suggest a bounce could be in order.
  • Any upswing is likely to have about 100 pips of room before hitting a key pivot near 0.8330.
  • That 0.8330 resistance would then be a place for a chance to enter back on the short side if USD strength returns.
  • In the medium term, the picture still looks bearish, even if the Kiwi is able to gain a little bit here in year's end. However, it would be interesting if there is a more sustained push to the upside by the Kiwi (targeting 0.he The NZDUSD is in the midst of a downtrend, but has found some support near 0.8115.
    The  last 2 daily candles suggest a bounce could be in order.
    Any upswing is likely to have about 100 pips of room before hitting a key pivot near 0.8330.
    That 0.8330 resistance would then be a place for a chance to enter back on the short side if USD strength returns.
    In the medium term, the picture still looks bearish, even if the Kiwi is able to gain a little bit here in year's end. However, it would be interesting if there is a more sustained push to the upside by the Kiwi (targeting 0.8400), but the macro picture would have to change to a more USD weak narrative.8400), but the macro picture would have to change to a more USD weak narrative.