The Kiwi is getting closer to the 2015 low

June 17, 2015

Sell on a level breakthrough of 0.6940 with 0.6870 target. Stop loss = 0.6990.

Reason for the trading strategy

The current account surplus of New Zealand's balance of payments in Q1 2015 amounted to 662 million NZ dollars, with a forecast of 190 million NZ dollars. In spite of the positive statistics, the demand for the Kiwi remains low. Investors expect a further reduction in the yield spread between the New Zealand and the US bonds.

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