The NZD/USD pair recently broke higher during the course of the day on Tuesday but found enough resistance near the 0.7950 level to turn things back
The NZD/USD pair recently broke higher during the course of the day on Tuesday but found enough resistance near the 0.7950 level to turn things back around and form a shooting star. We have been suggesting all along that the 0.80 level would continue to offer selling opportunities, as it should end up being a significant amount of resistance. With that, we are bearish of the New Zealand dollar and think that it will continue to drop to the recent lows and would sell on a break of the bottom of the candle.
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.
