By FX Empire.com
NZD/USD continued its fall on Monday as the world’s markets sold off. The “risk off” trade is back in fashion, and the Kiwi will always pay when this is the case. The commodity markets in general got whacked on Monday, and the Kiwi paid as a result. The pair is just above the 0.75 level, and we expect there to be a bounce from that level as it is a major round number, but this should only be a bounce from which to sell. The global environment remains the same for the foreseeable future, so selling rallies is probably the way to go going forward. Buying isn’t recommend as the trend is most certainly going against the Kiwi presently.
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