The NZD/USD pair tried to rally during the course of the week, but found the 0.80 level to be resistive, and as a result we ended up turning around in
The NZD/USD pair tried to rally during the course of the week, but found the 0.80 level to be resistive, and as a result we ended up turning around in forming the second shooting star in a row. The fact that we have formed to shooting stars at the bottom of the downtrend is very concerning to the value of the New Zealand dollar, and the fact that the central bank in New Zealand has been selling the Kiwi dollar suggests that we will continue to see bearish pressure.
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.
