The New Zealand dollar fell significantly during the day on Tuesday, crashing into the bottom of what I see as asymmetrical triangle. Ultimately, if we
The New Zealand dollar fell significantly during the day on Tuesday, crashing into the bottom of what I see as asymmetrical triangle. Ultimately, if we can break down below the bottom of the range for the day, I think we should have enough momentum to finally break down to the lower levels that would completely collapse the market. Alternately, if we turn around and bounce I believe we just simply continue to grind in this consolidation that we have been in for several weeks. I would be very patient before pulling the trigger in this pair.
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.
