The NZD/USD pair fell during the course of the day on Wednesday, breaking the bottom of the shooting star that had formed during the Tuesday session.
The NZD/USD pair fell during the course of the day on Wednesday, breaking the bottom of the shooting star that had formed during the Tuesday session. However, there is a significant amount of support somewhere near the 0.6825 level, so although things look negative, we believe that a bounce could be coming. If we can break above the top of the shooting star from the Tuesday session, that would be an extraordinarily strong move. With this, the market would then reach to the 0.70 level, which has been massively resistive. Ultimately, the one thing you can count on is a lot of volatility.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
