The NZD/USD pair went back and forth during the course of the session on Wednesday, essentially settling for a neutral candle. This neutral candle of
The NZD/USD pair went back and forth during the course of the session on Wednesday, essentially settling for a neutral candle. This neutral candle of course shows a bit of confusion, although the longer-term charts most certainly show that there is a significant amount of bearish pressure on the Kiwi dollar. This makes sense of course, because quite frankly the commodity markets are extraordinarily soft at the moment and that of course will be a bit of an anchor round the neck against the Kiwi. We are sellers on rallies that show bits of exhaustion above.
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.
