The NZD/USD pair initially tried to rally during the course of the session on Wednesday, but turn right back around to form a significant amount of a
The NZD/USD pair initially tried to rally during the course of the session on Wednesday, but turn right back around to form a significant amount of a shooting star. Ultimately though, the one thing that I can recognize is that the 0.72 level above is resistive, but I also recognize that there is the possibility of support based upon the uptrend line below. With this being the case, I think we need to see some type of impulsivity in order to suggest a potential trading opportunity. At this point, I am on the sidelines at this point.
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.
