The NZD/USD pair fell slightly during the course of the session on Monday, testing the 0.65 handle again. This is an area that is rather supportive
The NZD/USD pair fell slightly during the course of the session on Monday, testing the 0.65 handle again. This is an area that is rather supportive though, so we break the top of this candle we believe that there might be a short-term buying opportunity, for about 50 pips. Ultimately though, there is a significant amount of support just below, and as a result it’s difficult to sell this market at this moment in time although we do prefer of the downside longer-term. At this moment in time though, the market is probably going to only offer short-term opportunities anyway.
NZD/USD Forecast November 24, 2015, Technical Analysis
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.
