The NZD/USD pair fell initially during the session on Thursday, but turned back around in order to form a bit of a hammer. This hammer presses up against
The NZD/USD pair fell initially during the session on Thursday, but turned back around in order to form a bit of a hammer. This hammer presses up against the 0.80 level, an area that has been resistive. That being the case, we feel that the market should continue to be very erratic, but it is not until we get above the 0.81 level that we would be willing to buy this market though as there is a significant amount of noise just above. Regardless, we feel that the RBNZ will continue to press against the value of the Kiwi dollar.
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.
