The New Zealand dollar rose during the day on Friday, as we continue to see the US dollar get beaten up on. The New Zealand dollar is highly sensitive to
The New Zealand dollar rose during the day on Friday, as we continue to see the US dollar get beaten up on. The New Zealand dollar is highly sensitive to commodity markets, so pay attention to those obviously. If we can break above the 0.7340 level, I think that the market will make a move to the upside. We have recently broken above and a significant downtrend line, and it looks likely that the buyers are coming in to support this move. I think eventually we could go looking towards the 0.75 handle, as we continue to see a significant amount of volatility, but certainly an equal amount of value hunting.
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.
