The New Zealand dollar initially fell on Thursday but found enough buying pressure underneath to turn things around to form a slightly positive candle.
The New Zealand dollar initially fell on Thursday but found enough buying pressure underneath to turn things around to form a slightly positive candle. This is an area that we have been consolidating in, and I believe that the 0.70 level on the bottom is massively supportive, and that the 0.71 level on the top is massively resistive. A choppy market is what I expect, but if we can break above the top of the consolidation, then I’m a buyer. If we break down below the 0.70 level on a daily close, then I’m a seller.
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.
