For those familiar with the NZD/USD and the Milk futures strong correlation (China consumption of milk increasing from middle class….from New Zealand….get it?) we have been following this chart for a while.

Milk is sitting on key support here and next week should Milk futures slip through the red line (support), we will see a nice fall in the NZD (perhaps across the board)

 

Blake Morrow

Chief Currency Strategist, Wizetrade

Disclaimer, I am short the NZD/USD at .8595 avg