Kiwi: I stay LONG to key resistance at 0.7150
Many traders still talk about BUY Dollar vs Kiwi, but price action is opposite their willing.
The fact is USDollar is turning to correction period and we will see 2015 high is also 2016 high.
Look at on the chart, ascending long term trend line and SMA200 is holding N/U below them, but I think those resistance levels would rapidly be broken.
N/U now stops at 38.2% Fib retracement levels.
0.6900 is a meaningful resistance : it is 4 month high.
Very strong resistance is at 61.8% Fib Retracement : 0.7150; this will be final resistance, a fair value of N/U.
I will position N/U to that key resistance : at least to 0.7100
The fact is USDollar is turning to correction period and we will see 2015 high is also 2016 high.
Look at on the chart, ascending long term trend line and SMA200 is holding N/U below them, but I think those resistance levels would rapidly be broken.
N/U now stops at 38.2% Fib retracement levels.
0.6900 is a meaningful resistance : it is 4 month high.
Very strong resistance is at 61.8% Fib Retracement : 0.7150; this will be final resistance, a fair value of N/U.
I will position N/U to that key resistance : at least to 0.7100
