The NZD/USD pair initially fell during the course of the day on Monday, but found enough support below in order to turn things back around and form a
The NZD/USD pair initially fell during the course of the day on Monday, but found enough support below in order to turn things back around and form a hammer. However, the hammer is enough to get us excited enough to start buying this market, as we realize that the 0.0 level above continues to offer significant resistance. With that, we are waiting to see whether or not we get some type of negative candle in order to start selling again as the US dollar is most certainly the favored currency by traders around the world.
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.
