The NZD/USD pair initially fell during the day on Thursday, but found support at the large round number below. The 0.65 level has been important lately,
The NZD/USD pair initially fell during the day on Thursday, but found support at the large round number below. The 0.65 level has been important lately, and as a result it is not a surprise that we saw the market offer support. However, we do not have any interest in buying this market, and recognize the area above as denoted by the yellow rectangle as being very resistive. With that, we are waiting to see whether or not the 0.6650 level offers enough resistance to start selling again. On the other hand, if we broke down below the 0.65 level, we would be sellers there as well.
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.
