The NZD/USD also dropped to a new 2013 low yesterday, breaking through the Monthly S3 Pivot to trade all the way down to round handle support at .8000. The pair has since found a floor at this level and staged a sharp rally back to .8100, but as with the other pairs, there is no reason to suggest that the USD rally is coming to an end yet. Watch for resistance at .8100 or near the previous highs at .8200 if the bounce turns out to be stronger than expected.
DISCLAIMER: The information provided below should not be relied upon as a substitute for extensive independent research before making your investment decisions. FX360 .com is merely providing these views for your general information. The information presented in the views below does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision and should tailor the trade size and leverage of their trading to their personal risk appetite. We generally encourage readers and clients not to risk more than 3% of their account on any single trade. In addition, any projections or views of the market provided by the authors may not prove to be accurate.
FX360.com and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained on FX360.com
NOTE: All trade ideas on FX360.com are hypothetical. FX360.com has not placed these ideas in a live trading environment. Forex Trading involves high risks, with the potential for substantial losses that exceed your initial deposit and is not suitable for all persons. Past performance is not necessarily indicative of futures results.