The NZD/USD pair initially tried to rally during the session on Wednesday, but as we have been seen for some time the 0.80 level is significant
The NZD/USD pair initially tried to rally during the session on Wednesday, but as we have been seen for some time the 0.80 level is significant resistance. Because of that, we turned back around and with the help of the Federal Reserve releasing a fairly hawkish statement, we ended up breaking down quite a bit. The 0.78 level of course was tested, and we believe that it’s only a matter of time before this pair breaks down significantly. The 0.75 level below will be targeted, as will the 0.70 level given enough time.
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.
