The NZD/USD pair rose drastically during the previous five sessions as we slammed into the 0.83 resistance area. This resistance area runs all the way to
The NZD/USD pair rose drastically during the previous five sessions as we slammed into the 0.83 resistance area. This resistance area runs all the way to 0.8350 as far as we can tell, and it looks like we are in the midst of a breakout. It is because of this that we are willing to buy this market once we get above the highs of the candle for the week, and would expect this market to run much higher if this happens. As far as selling is concerned, we are not interested until we get below the 0.80 level. Otherwise, we look at this is a short-term traders market.
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.
