The New Zealand dollar fell slightly during the day on Friday as we continue to see support at the 50% Fibonacci retracement level. The 0.6850 level
The New Zealand dollar fell slightly during the day on Friday as we continue to see support at the 50% Fibonacci retracement level. The 0.6850 level continues to be supportive, as it was resistive in the past. If we can break down below there I think that the market will drop down. A bounce from here should send the market towards the bottom of the symmetrical triangle that we broke down below, where I would expect to see resistance. This will be a very interesting market, but currently it looks as if it is negative.
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.
