The NZD/USD pair initially fell during the course of the session on Thursday, but found enough support to turn things back around and form a hammer.
The NZD/USD pair initially fell during the course of the session on Thursday, but found enough support to turn things back around and form a hammer. Because of this, it looks like that the New Zealand dollar should continue to go a little bit higher, but quite frankly we feel that there is more than enough resistance above to push the market back down. The 0.6750 level is a massive level of resistance, so at this point in time we are to simply waiting to see exhausted candles in order to start selling again.
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.
