The NZD/USD pair went back and forth during the course of the week, testing the 0.80 level for resistance. It did in fact find it there, and as a result
The NZD/USD pair went back and forth during the course of the week, testing the 0.80 level for resistance. It did in fact find it there, and as a result turned back around and formed a negative candle. The negative candle of course suggests that the sellers are starting to get involved again, and that we will ultimately head down to the lows again. The 0.75 level is our next target, and we do recognize that the central bank in New Zealand continues to pressure the Kiwi, making us very bearish.
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.
