NZD/USD Bouncing from Support

Good morning traders,

I think you can safely justify having closed out your Kiwi shorts at support:

NZD/USD Daily:

Click on chart to see a larger view.

With price having come down so far so fast in the midst of political uncertainty, there was always going to be a pause at this major higher time frame support level.

You can see that price is now starting to have a bit of a bounce, but whether there is any substance behind a move in a pair with huge bearish sentiment behind it, is yet to be seen.

I’m happy to stay flat on Kiwi and just monitor the level for now.

Have a great Thursday!

Best of probabilities to you.

Dane Williams – Vantage FX

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Source: Vantage FX Blog