New Zealand Dollar Expected to Continue Lower
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NZDUSD – Retail forex trading crowds remain aggressively long the New Zealand Dollar versus the US Dollar and have remained so since the NZD/USD traded below $0.7600 in May. As long as ‘the crowd’ continues to buy, we’ll remain in favor of selling into declines. Our technical focus remains on major lows closer to the $0.6500 mark.
See next currency section: XAUUSD - Gold Prices Look like a Buy versus US Dollar
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.