The New Zealand dollar fell significantly during the Thursday session, and looks poised to continue the downtrend. Because of this, I think that the
The New Zealand dollar fell significantly during the Thursday session, and looks poised to continue the downtrend. Because of this, I think that the market is can go looking towards the 0.71 level next, and then perhaps even the 0.70 level after that. If we broke above the 0.72 handle, then I think that the market could go looking for higher levels. In the meantime, I’m looking to fade rallies and sell weakness. Pay attention to commodities, because quite frankly it is such a high correlation between the 2 markets. Expect noise.
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.
