EUR/USD and NZD/USD Break Lower, Which Looks Better
The headlines and FX volatility picked up this past session; which made key breaks from EURUSD, NZDUSD and a number of other pairs particularly interesting. Yet, we cannot ignore that these appealing technical breaks catalyzed by isolated event risk like renewed uncertainty surrounding Italy's financial health and the RBNZ's rate decision. Absent - and even contradicting a number of these developments - was a material shift in risk-based trends. Yet, that 9-day Dow rally offers up evidence that it subsists on borrowed time. Are these tentative moves tradable and what should we look for moving forward. We discuss this and more in today's video.
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.