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.
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.
