The NZD/USD pair initially rallied during the course of the session on Friday, but ended up forming a shooting star just below the vital 0.6750 level.
The NZD/USD pair initially rallied during the course of the session on Friday, but ended up forming a shooting star just below the vital 0.6750 level. Because of this, we feel that a break down below the bottom of the shooting star would be reason enough to start selling and could have this market reaching all the way down towards the 0.65 handle. The orange dashed line just above continues to be resistive, so we are not interested in buying this market at the moment. If we can get above the 0.6750 level, we feel that it’s time to start buying.
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.
