By FX Empire.com
NZD/USD rose on Wednesday as the commodity markets bounced a bit. The Kiwi dollar is highly sensitive to the global risk profile, and as a result – we don’t like buying it at this point. Yes, it is true the bounce is impressive and solid – but when looking at it in the overall context of the chart, it is simply a bounce at this point. There are far too many potential negative headlines in the marketplace to get overly bullish of the Kiwi at this point in time. We still prefer to sell rallies, especially ones that are showing weaker candles after a run up.
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