The NZD/USD pair broke higher during the course of the session on Friday, but as you can see still remains within the overall consolidation area. We
The NZD/USD pair broke higher during the course of the session on Friday, but as you can see still remains within the overall consolidation area. We believe that this market has significant resistance of the 0.6750 level, and as a result we are looking for resistive candle in order to start selling as the New Zealand dollar has been so bearish for months now. We have no interest in buying, at least not until we get well above the 0.70 level which could signal a potential trend change. In the meantime though, we have to remain bearish.
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.
