Big news out of New Zealand yesterday that the government will try and dissuade speculation in the housing market in order to prevent the growing housing bubble from getting even larger.
As a result, the New Zealand Dollar has been moving lower. However, on a 240 -minute timeframe, there are a number of reasons to suspect that the Kiwi vs the US Dollar may soon be ready for a bounce!
*See the video for all the reasons!
NZD/USD is at the Line in the Sand. Bulls will be looking to scoop up the kiwi near this support zone while bears will be looking for stops underneath!