As the New Zealand dollar struggles to maintain the upward trending channel from earlier this year, the NZD/USD looks poised to reverse course and the high-yielding currency may continue to heavy in the days ahead as the shift away from risk-taking behavior gathers pace. Meanwhile, the Canadian dollar gave back the advance from June, with the USD/CAD coming up against the 78.6% Fibonacci retracement from the 2007 low to the 2009 high around 0.9880-0.9900, and the exchange rate may threaten the major trend as investors scale back their appetite for yields.
Thanks 4 yr update... ;)
LazzyRabbit 6 months ago