The NZD/USD pair broke lower during the course of the day on Thursday, testing the 0.78 level. As we continue this bearish move, it appears that the
The NZD/USD pair broke lower during the course of the day on Thursday, testing the 0.78 level. As we continue this bearish move, it appears that the market is ready to continue down to the recent lows out the 0.7750 handle, and as a result it’s very likely that this market will find a little bit of support below but we feel that it’s only a matter time for we break down from here and head to the 0.75 handle next. The Royal Bank of New Zealand is calling for an exchange rate of 0.68, so you can bet that this market is going to go lower from here.
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.
