Potential buy trade in NZD/USD, but with caution
Following the release of the CPI data from the US, the US dollar found some renewed strength which pushed most
of the other currencies lower versus the US Dollar. The commodity currencies took a severe hit with NZD being pushed
below the 0.6 level.
However, the price seems to have found some support at this level and there could be a rally to 0.61 very soon. So, my plan
is to long the NZD/USD at 0.5975-0.60 with a moderate stop loss and my first target at 0.61.
of the other currencies lower versus the US Dollar. The commodity currencies took a severe hit with NZD being pushed
below the 0.6 level.
However, the price seems to have found some support at this level and there could be a rally to 0.61 very soon. So, my plan
is to long the NZD/USD at 0.5975-0.60 with a moderate stop loss and my first target at 0.61.