The NZD/USD pair fell during the bulk of the week, but seemed to stall right around the 0.8550 level. There is a significant amount of support below at
The NZD/USD pair fell during the bulk of the week, but seemed to stall right around the 0.8550 level. There is a significant amount of support below at the 0.85 handle as well, so quite frankly we don’t really see an opportunity to sell this market. That being the case, we are waiting for some type of supportive candle just below current levels in order to start buying again. Ultimately, watch risk appetite in general as it typically will push the New Zealand dollar around in a positive correlation.
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.
