Kiwi greenback continues the comeback
The US greenback was among the many high performers final week however it’s again within the basement this week. On the different finish of the spectrum is the New Zealand greenback, which was simply the highest performer this week.
Taking a look at NZD/USD, it is had a pleasant two-week breakout from the 2020 highs however now faces the late-2018 and early-2019 highs as resistance.
I am more and more of the assumption that we will see an enormous breakdown within the US greenback and that is going to interrupt out. The timing of it’s the problem however this chart, together with USD/CAD are at pivot factors, so anticipate them to all break directly.
I get the sense that so many individuals are on the lookout for dips in commodity currencies, EMFX, equities, gold, oil, and many others. Normally when everyone seems to be begging for that form of dip, it by no means comes.
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