Good morning traders,
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
Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.
Source: Vantage FX Blog