The New Zealand dollar fell during the session on Tuesday, testing the 0.7275 handle. We did bounce from there, and now it looks like we may be ready to
The New Zealand dollar fell during the session on Tuesday, testing the 0.7275 handle. We did bounce from there, and now it looks like we may be ready to consolidate overall. I think that the market has resistance at the 0.7340 level above, so that’s probably where we bounce too. If we can break above that level, then I feel that the market can go towards the psychologically important 0.75 level above. That is an area that had seen a significant amount of resistance in the past, so I think breaking down below there might be difficult.
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.
