The NZD/USD pair fell during the course of the day on Tuesday, testing the 0.78 level. The area of course has offered support recently, but it’s not until
The NZD/USD pair fell during the course of the day on Tuesday, testing the 0.78 level. The area of course has offered support recently, but it’s not until we break down below the 0.7750 level that we feel comfortable selling. Market of course is bearish but we think that there is no way whatsoever buying until we get above the 0.80 level, and probably the 0.81 level at that. The Royal Bank of New Zealand continues to pressure the Kiwi dollar, so that being the case we think that the New Zealand dollar will continue to sell off over the longer term.
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.
