The New Zealand dollar shot higher at the open on Monday, but then pulled back to look for support. We eventually got it, and ended up forming a bit of a
The New Zealand dollar shot higher at the open on Monday, but then pulled back to look for support. We eventually got it, and ended up forming a bit of a rounded bottom for most of the day. Because of this, it looks as if the market is ready to go higher, and a break above the 0.7260 level should send this market looking for the 0.73 handle. I think that if we break below the 0.7225 level, the market will probably be forced to reach down to the 0.72 handle after that.
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.
