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.
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.
