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.
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.