I think the Kiwi enjoyed a second consecutive rise in milk prices (milk prices seems much solid than hard commodities
, the currency market is still dominated by the commodities
market, and it’s dominated more by the oil
market), in addition the economy in New Zealand grew by 0.9% q/q, better than expected and also positive in absolute terms. New Zealand trade balance came out a bit better than expected, and that gave some support to the Kiwi maybe?
is trading at the 200 day average which is first time since August 2014. Around 0.70 is where the pair found support back May. The low of 0.6940 allowed for a temporary bounce. 0.6860 was a low point as the pair dropped in June 2015.
I like easy going and hassle-free swing trade. This is for my trade journal only feel free to comment.