The NZD/USD pair initially fell on Monday, but turned back around to form a slightly positive candle. However, we believe that there is a significant
The NZD/USD pair initially fell on Monday, but turned back around to form a slightly positive candle. However, we believe that there is a significant amount of resistance above, all the way to the 0.80 level. On top of that, the Royal Bank of New Zealand continues to wish the Kiwi dollar to a much lower level, and they had recently entered the marketplace to start selling it. Because of this, we do not have an interest in buying this market, and we believe that waiting for resistive candles is the way to go in this marketplace as we only want to sell.
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.
