The NZD/USD pair initially tried to rally during the course of the session on Tuesday, but turned back around and form a shooting star. The shooting star
The NZD/USD pair initially tried to rally during the course of the session on Tuesday, but turned back around and form a shooting star. The shooting star sits directly above the 0.65 handle, which we feel is the massive support that is keep the market lifted a bit at this point. We have no interest whatsoever in buying this market, we look at rallies with significant suspicion. A move below the 0.65 handle has us selling as the market should then break down to the 0.6250 level. Ultimately, we believe that this market does break down due to what’s going on in the commodity markets.
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.
