TECHNICAL ANALYSIS

NZD was the best performer this week, approaching 2019 highs


The kiwi dollar continues its comeback

The kiwi dollar continues its comeback

The US dollar was among the best performers last week, but it’s back underground this week. On the other end of the spectrum is the New Zealand dollar, which was by far the best result this week.

Looking at NZD / USD, it had a nice two week breakout from 2020 highs, but now faces late 2018 and early 2019 highs as resistance.

NZDUSD d

I am more and more convinced that we are going to see a sharp fall in the US dollar and that it will burst. Timing is the challenge, but this chart, as well as the USD / CAD are at pivot points, so expect them to all break at the same time.

I feel like a lot of people are looking for dips in commodity currencies, EMFX, stocks, gold, oil, etc. Usually when everyone asks for that kind of drop, it never comes.

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