Following weak Chinese data over the weekend, both Aussie and Kiwi opened with a gap lower. The former rose from the open while the latter, whose gap was smaller, traded lower in the early Asian session before rising too.
This is the second time that Kiwi bounced from the strong support in 0.6700 - 0.6750 band, which includes February highs and 100 DMA. The topside has been capped by 50 DMA recently. Whichever DMA will give way first will likely determine the direction of the next leg.
This is the second time that Kiwi bounced from the strong support in 0.6700 - 0.6750 band, which includes February highs and 100 DMA. The topside has been capped by 50 DMA recently. Whichever DMA will give way first will likely determine the direction of the next leg.
