NZD/USD finally broke above the all-important 0.85 resistance level on Tuesday, and looks set to continue the bullish stance. The announcement of the Fed extending their meeting in September to two days has people speculating that the Fed will continue to ease. This should be bullish for commodities, and thus - bullish for the commodity currencies like the Kiwi. The NZD/CHF is rapidly pushing at the 0.70 level, and looks like it wants to have a go at it. However, with the massive run up in this market, we don't want to buy this pair. However, we bring it up as it shows just how the "risk on / risk off" trade is going. As long as the NZD/CHF rises - traders will continue to buy risk. Play video >>
The NZD/CHF is presently rising as the world continues to shed fear and buy risk. This shows that the pair should continue to accelerate if we can break ever so slightly higher. The bounce we have seen has been fantastic so far, and it shows that confidence is coming back into the overall markets. The EUR/NZD looks like it is set to fall from the levels it sits at presently. The pair had a good bounce, but it was counter-trend, and therefore was always going to be suspect. With the 1.75 resistance area holding, this pair looks set to continue its downtrend. Play video >>
The NZD/CHF pair has fallen quite a bit in the alst several days, and as the world is getting more and more risk-adverse, this pair will fall. The bounce on Friday makes sense, as no market goes in a straight line, but this could be a selling opportunity in the end. We are watching to see how price reacts at the 66 handle. The NZD/USD has fallen far in the last few days, and the 0.85 level has been broken. As we have bounced, we fell just short of this area. It is a crucial area for the bulls, and they simply must reclaim it. If not - we go much lower. Play video >>
NZD/USD has fallen the last couple of days in a row, but each time - the buyers step into the market to keep pushing this pair much higher. Once we break 0.85 - we could move onto be things. NZD/CHF has been rangebound in the rectangle pattern area. Why? They are two of the strongest currencies on earth right now! Play video >>
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