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The New Zealand dollar initially shot much higher at the open on Monday, but has rolled over completely. Because of this, I think that the market is going to go looking for support below, and I do see a couple of areas where it could find it, near the 0.7250 level, and the 0.72 level. The volatility is very high, and this makes the New Zealand dollar now a bit difficult to trade. I suspect that it is probably best to step on the sidelines and the short-term and it comes to the kiwi dollar.

NZD/USD Video 19.9.17

This article was originally posted on FX Empire

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