The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support below in order to bounce and form a hammer. This hammer
The NZD/USD pair initially fell during the course of the day on Thursday, but found enough support below in order to bounce and form a hammer. This hammer suggests that we are going to go higher, and quite frankly we feel that the market will struggle to get above the 0.80 level, which we see significant resistance above. With that, we are looking for some type of resistant candle in that general vicinity to start selling, but at the moment we are looking to stay out of the market as we have no interest in buying.
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.
