Fundamentally, we've seen huge downside to the Chinese Yuan due to tarrifs on China, and this impacts the Kiwi and Aussie market, the Kiwi always hit more by a sentiment change than the Aussie which is backed up by other stronger , although right now Gold , Crude, Iron Ore, Copper etc are , which is not helping. We already know the US$ numbers are showing strong upside and with increased interest rates, pushing investors to run there for cover, the DXY still has a long climb back to the 95.5 highs, the ZXY in comparison has a long way to fall.
If we get positive numbers out of the US$, non-farm payroll PMI this week, we'll certainly see a move below or touching 0.67. I'm trade active from yesterday.
I've traded this pair on and off now for a few months, as well as GBP / Kiwi, my most profitable trade of the year at over 1000 pips. The Kiwi is being seriously impacted by China and poor Aussie numbers from Commodities.
Be very aware of your entries this morning, in early, out early today, unless you have some excellent positions that can handle being held over the weekend, I certainly do, I've held some trades for over a month.
You can see the Kiwi is mirroring the US$ here, but that makes no difference unless they cross, it's the weaker currency and will remain so unless NFP comes in negative.
On the weekly chart shows the pair is reaching the low of the range, a positive NFP could cause a breakout and if so, 0.64 is on the card in a week or two. Until then, I'm watching for 0.65