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.
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.
