The NZD/USD pair rose during the course of the session on Thursday, testing the 0.70 level. That is an area that is massively resistive, so the fact that
The NZD/USD pair rose during the course of the session on Thursday, testing the 0.70 level. That is an area that is massively resistive, so the fact that we pulled back from there slightly is not a huge surprise. If we can break above the top of the shooting star that formed at that level, it would be likely that it would become a “buy-and-hold” type of market. Pullbacks should invite buyers to get involved, as it would represent value in a very bullish market that seems to be prepared to grind much higher.
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.
