The NZD/USD pair rose during the course of the week, using the 0.65 level as support. The 0.6750 level above is resistance, and as a result we are not
The NZD/USD pair rose during the course of the week, using the 0.65 level as support. The 0.6750 level above is resistance, and as a result we are not ready to start buying at this point. In fact, we would prefer to see this market go well above the 0.70 level in order to start buying. In the meantime, we are simply standing on the sidelines as we feel longer-term traders do not have enough room to move in this market at the moment. Now that we are at the end of summer though, liquidity should start to pick up and we should get a little bit more clarity.
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.
