NZD/USD pair fell during the course of the day on Friday, testing the 0.68 level. Ultimately, the market could bounce from here, but we also have to keep
NZD/USD pair fell during the course of the day on Friday, testing the 0.68 level. Ultimately, the market could bounce from here, but we also have to keep in mind that we formed a shooting star on the weekly chart. This suggests that we could have more selling pressure. At this point though, there is quite a bit of noise so short-term rallies of exhaustion on short-term charts should be selling opportunities. Ultimately, the 0.6750 level could be targeted on a bearish move at this point in time. One thing that you can count on is volatility.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
