The NZD/USD pair broke higher during the session on Monday, testing the 0.80 handle but not breaking above it. Because of this, it seems as if the market
The NZD/USD pair broke higher during the session on Monday, testing the 0.80 handle but not breaking above it. Because of this, it seems as if the market is continuing to try to break higher, but ultimately we know that the Royal Bank of New Zealand is push in this market down, and aiming for the 0.68 handle given enough time. In fact, they have even entered the spot markets in order to sell the Kiwi off. Because of this, we are only sellers, and we are looking for some type of resistant candle in order to take advantage of the central bank’s well-known attention.
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.
