The NZD/USD pair broke down during the course of the week, testing the 0.65 handle. The area of course has been resistance in the past as well as support,
The NZD/USD pair broke down during the course of the week, testing the 0.65 handle. The area of course has been resistance in the past as well as support, so we believe that this market is difficult to trade from a longer-term perspective. We think that short-term trades will more than likely offer opportunity from time to time, but at this point in time we have no interest whatsoever in placing longer-term trades although we certainly believe that the downward pressure should continue to push this market overall.
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.
