The Biggest Loser?
It's that time of the week to sum up the % changes of major currencies vs each other and the winner for the strongest currency is......
The USD...
That is of course to the chagrin of the President, but as someone told me today, it really is the plan as it allows Pres. Trump to accuse all other countries of being currency manipulators AND blame the Fed at the same time.
The biggest loser this week is the NZD.
The NZDUSD -which was the biggest mover this week at -1.7% - moved to the lowest level since September 2017.
In the process, it fell below the 2016 low of on Wednesday at 0.63465. The corrective high price on Thursday reached 0.63466 before turning around and heading back lower. Nice technical clue there.....
The low today reached 0.62828, before rebounding toward the 0.6300 currently.
Keep in mind in the new week, that the 0.63465 remains a key line in the sand for next week's trading. Stay below, keeps the sellers in control. Move above, and there is some control being taken back by the dip buyers...
