The NZD/USD pair broke down during the session on Monday, breaking through the 0.8450 level at one point during the day. That is a significant support
The NZD/USD pair broke down during the session on Monday, breaking through the 0.8450 level at one point during the day. That is a significant support level, so having said that the market is looking to break down if we can get below the lows for the session. If that happens, we could see a significant move lower, but until we see that we can’t be involved. Alternately, if we can get back above the 0.85 handle, we would be buyers as that would be a strong signal that the New Zealand dollar was going to remain buoyant.
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.
