The NZD/USD pair broke higher during the course of the day on Monday, clearing the top of the hammer that had formed on Friday. As a result, we continue
The NZD/USD pair broke higher during the course of the day on Monday, clearing the top of the hammer that had formed on Friday. As a result, we continue to consolidate in this general vicinity, and we are more than willing to sell a resistant candle in this area. That being the case, we are looking at a market that is more than likely going to grind sideways with a negative bias. We still believe that the NZD/USD pair will eventually hit the 0.75 handle, an area that is a much more important long-term support level.
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.
