The NZD/USD pair broke higher during the course of the session on Tuesday, but we have a significant amount of resistance near the 0.6750 level, and we
The NZD/USD pair broke higher during the course of the session on Tuesday, but we have a significant amount of resistance near the 0.6750 level, and we are most certainly in a downtrend. We believe that the actual “ceiling” in this market is the 0.70 level. With that being the case, we are simply waiting for resistant candle in order to continue selling, as the market will more than likely try to head back to the 0.65 handle given enough time. As long as commodity markets continue to struggle, this pair will as well.
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.
