The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support near the 0.76 level to turn things back around and form
The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support near the 0.76 level to turn things back around and form a bit of a hammer. The hammer of course is a very bullish sign, but we recognize that the market overall is rather consolidative. If we see this market break above the top of the hammer, we believe that the move to the 0.77 level is very possible, but above there the market continues to struggle. At this point in time, we feel that it is essentially going to be short-term trading only.
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.
