The NZD/USD pair fell hard during the session on Wednesday, dipping below the 0.85 handle. However, the area showed quite a bit of promise for support,
The NZD/USD pair fell hard during the session on Wednesday, dipping below the 0.85 handle. However, the area showed quite a bit of promise for support, and the fact that we did not break down below the 0.84 level tells us that there is still plenty of buying pressure in the region. We believe that the market could very well bounce from here, and with that we are looking for a supportive candle in order to start buying, and would even look to the short-term charts in order to find a buying opportunity in this general vicinity.
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.
