After a sharp fall and subsequent correction in the first part of March, Kiwi continues to grind down, slowly. This relatively high yielding currency has been less sensitive to risk than in the past. Overnight U.S. attack on Syria barely dented it.
The pair is trading near the lower extreme of the 2015 - 2017 channel. A sustained break below 0.6890 (March low) and 0.6860 (December low) could lead to a test of 0.6750 - 0.68 area (50.0% retracement of the 2015 - 2016 upswing). 0.70 - 0.7025 is the…
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