The NZD/USD pair initially rallied during the course of the session on Monday, but turned back around to form a little bit of a shooting star. Quite
The NZD/USD pair initially rallied during the course of the session on Monday, but turned back around to form a little bit of a shooting star. Quite frankly, this is a downtrend and we believe that it will continue. We believe that the 0.65 level will be targeted next, and perhaps a move below there given enough time. Rallies at this point in time look suspicious to us, and we are sellers of them as soon as there are signs of weakness. Ultimately, the commodity markets are simply far too weak to support the Kiwi.
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.
