The NZD/USD pair fell during the course of the week, slamming into the 0.65 level. This is a massive support level, so having said that a bounce is in the
The NZD/USD pair fell during the course of the week, slamming into the 0.65 level. This is a massive support level, so having said that a bounce is in the big of a surprise but quite frankly it hasn’t exactly followed through. Because of this, we are simply waiting for short-term rallies in order to start selling. Longer-term trades will be difficult to take unless of course we break down to a fresh, new low. If that happens, 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.
