Lower demand for higher risk currencies helped drive the New Zealand Dollar lower on Friday. Investors concerned about U.S. trade disputes with China, Canada and the European Union sent investors scurrying into the safe haven U.S. Dollar, helping to make the Kiwi dollar a less-desirable investment. At 1951 GMT, the NZD/USD is trading .6618, down 0.0025 or -0.38%....
The daily Forex chart rallied for 3 weeks in a parabolic wedge buy climax. While the rally is a bull trend reversal, it is also a buy vacuum test of resistance. A buy climax to resistance usually makes bulls take at least partial profits. This stops the rally and often leads to a pullback. The sideways to down move typically has at least a couple legs and often...