The NZD/USD pair went back and forth during the course of the week, testing the 0.80 level. That level offered resistance as we had anticipated, but we
The NZD/USD pair went back and forth during the course of the week, testing the 0.80 level. That level offered resistance as we had anticipated, but we ended up forming a slightly positive candle for the week. If we can get above the 0.80 level, the market could go much higher. On the other hand, we appear to see in of significant resistance there that the market very well could fall from here, which is what we actually believe will happen longer term anyway. The central bank in New Zealand is trying to work the value of the Kiwi dollar down, and we do believe that ultimately this market will accomplish what the central bankers wish.
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.
