NZD/USD fell at first during the Friday session, but saw massive rebounding as the market fell into relief rally mode after the EU summit. However, there
NZD/USD fell at first during the Friday session, but saw massive rebounding as the market fell into relief rally mode after the EU summit. However, there is the previous resistance area just above, and we feel that the market is simply returning to that range. The most recent pattern has been for lower highs, and this tells us that the path of least resistance is down. Because of this, we are willing to avoid buying this pair as we see the upside being so limited.
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.
