The NZD/USD pair fell during the course of the day on Friday, as we continue to consolidate. The 0.78 level offered support, and as a result we feel that
The NZD/USD pair fell during the course of the day on Friday, as we continue to consolidate. The 0.78 level offered support, and as a result we feel that this market will continue to be rather choppy overall. We believe that the New Zealand dollar will continue to go lower though, simply because the central bank has been stepping into this marketplace in shorting the Kiwi. With that, we have no interest in buying, and will sell this marketplace anytime there seems to be resistance. We look at the 0.7 750 level giving way as a sign of a longer-term move to the downside.
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.
