The NZD/USD pair initially fell during the day on Tuesday, but found enough support at the 0.65 level to turn things around and form a bit of a hammer.
The NZD/USD pair initially fell during the day on Tuesday, but found enough support at the 0.65 level to turn things around and form a bit of a hammer. Ultimately, the market should continue to go higher, and as a result we will probably try to reach towards the 0.66 handle. At this point in time though, we think that any rally will end up being a selling opportunity, so we are more than willing to sell resistive candles as they appear. We would also be sellers below the 0.64 level as it would show a significant breakdown.
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.
