Dollar Versus Kiwi and Aussie November 9th

FX Strategy Video > Currency Pairs Analysis

NZD/USD had a strange day on Tuesday. While the rest of the world partied and celebrated the resignation of the Italian PM, it couldn't break above the 0.80 level. Because of this, we wonder if this is a "Canary in the coal mine" situation. The pair needs to show us a large candle in one direction or another in order to follow the market. Only fools try to anticipate this kind of market.

AUD/USD formed another Hammer on the daily chart for Tuesday, and the 1.03 level looks like it is going to be supportive. However, the 1.05 area just above looks resistive. The area could produce choppy and scalper-like markets.

Published on 8th of November 2011
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