The NZD/USD pair broke down during the course of the session on Friday, testing the 0.65 handle. This is an area that has been quite important to this
The NZD/USD pair broke down during the course of the session on Friday, testing the 0.65 handle. This is an area that has been quite important to this market lately, so having said that it makes sense that the market continues to be attracted to it. A bounce from here can’t necessarily be ruled out, but at this point in time it looks as if the New Zealand dollar is going to continue to struggle. A break down below the 0.650 level on a significant candle would be reason enough to start selling as well. We have no interest in buying at the moment.
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.
