The NZD/USD pair broke lower during the course of the day on Wednesday, clearing the bottom of the shooting star that had formed on Tuesday. Because of
The NZD/USD pair broke lower during the course of the day on Wednesday, clearing the bottom of the shooting star that had formed on Tuesday. Because of this, we feel that the market is going to continue to go lower and the fact that the Royal Bank of New Zealand continues to pressure the Kiwi dollar in general, we recognize that this pair should continue to go much lower. With that being the case, we are not interested in buying this market and recognize that a return to the 0.7750 level is almost guaranteed at this point in time.
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.
