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.
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.
