The Kiwi is approaching the support of 0.7280

May 26, 2015

Sell on a level breakthrough of 0.7280 with 0.7178 target. Stop loss = 0.7330.

Reason for the trading strategy

In April, New Zealand's trade balance amounted to 123 million with a forecast of 100 million New Zealand dollars. The data, which was slightly better than expected, did not prevent the Kiwi from falling. Strengthening of the dollar against the euro puts pressure on the NZD/USD pair.

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