The NZD/USD pair initially tried to rally during the course of the week, but as you can see the 0.79 level did in fact offer enough resistance to turn
The NZD/USD pair initially tried to rally during the course of the week, but as you can see the 0.79 level did in fact offer enough resistance to turn things back around and form a massive shooting star. The shooting star sits just above the 0.7750 level, which is of course support from the previous week. With that being the case, we feel that the market will continue to drop from here, and head towards the 0.75 level. A break down below the 0.7750 level, we are sellers.
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.
