The NZD/USD pair tried to rally during the course of the day on Tuesday, but as you can see failed to continue going higher. With that, it’s likely that
The NZD/USD pair tried to rally during the course of the day on Tuesday, but as you can see failed to continue going higher. With that, it’s likely that we will continue to see rallies be sold on short-term charts. We feel that this market below offers a significant amount of support, but that ultimately we will go down to the 0.75 level given enough time. Any bounce at this point time would continue to attract sellers as far as we can tell, and the 0.80 level above should be resistance. 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.
