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.
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.
