The NZD/USD pair fell initially during the course of the session on Wednesday, but found enough support below to turn things around and form a bit of a
The NZD/USD pair fell initially during the course of the session on Wednesday, but found enough support below to turn things around and form a bit of a hammer. If we can break above the top the hammer, this market should then reach towards the 0.6750 level. If we can break down below the bottom of the hammer, we should then reach towards the 0.64 handle given enough time. Keep in mind that the New Zealand dollar is highly sensitive to commodity markets in general, so having said that we will have to watch the general attitude of commodities.
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.
