The NZD/USD pair broke higher during the course of the day on Wednesday, continuing to consolidate just above the 0.65 handle. This area has been
The NZD/USD pair broke higher during the course of the day on Wednesday, continuing to consolidate just above the 0.65 handle. This area has been massively supportive, so we may have to bounce around a little bit in order to break down this support barrier. The market is certainly bearish, so we don’t have any interest whatsoever in buying. We believe that the market will eventually turned back around as the commodity markets are simply far too soft at the moment to think that the New Zealand dollar is going to strengthen.
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.
