The NZD/USD pair initially rallied during the session on Tuesday, but turned back around to form a shooting star. With that, the market looks as if it is
The NZD/USD pair initially rallied during the session on Tuesday, but turned back around to form a shooting star. With that, the market looks as if it is ready to go lower, heading to the 0.65 handle given enough time. Rallies at this point in time should be selling opportunities on short-term charts. We have no interest in buying this market, as the New Zealand dollar continues to weaken over the course of time. If we break down below the 0.65 level, we feel the market should then head down to the 0.6250 level.
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.
