The NZD/USD pair rose slightly during the session on Wednesday, showing the 0.7750 area to be supportive. However, we think this will be a continuation of
The NZD/USD pair rose slightly during the session on Wednesday, showing the 0.7750 area to be supportive. However, we think this will be a continuation of the consolidation that we’ve seen over the last couple of days as the market tries the form some type of base in this general vicinity. After all, we are towards the bottom of the larger consolidation area, salute makes sense that we got a little bit of a bounce from here. We believe that any move higher will struggle to get above the 0.80 handle though, as it is a major psychologically significant number. Is because of that that we would take any profits that we had at that point.
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.
