Sunday June 7, 2015 - 22:50:30 GMT
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Max McKegg's FX Currency Focus: NZD/USD
The best (most profitable) way to capitalise upon a stronger US Dollar these past weeks, has been to short the “Kiwi” (NZD/USD).
From both classical charting and Elliott Wave perspectives, the outlook for the Kiwi remains Bearish. In the short term, resistance at .7070/.7110 probably now contains for sell-off toward my next downside target around the .6890 level (refer Daily Chart
In the context of the “bigger picture” outlook, there remains potential for the Kiwi to decline to the low .6000’s over coming weeks/months (refer Weekly Chart below).
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