The New Zealand dollar initially fell, but then turned around a break to the upside, only to pull back again. The volatility in this pair makes a lot of
The New Zealand dollar initially fell, but then turned around a break to the upside, only to pull back again. The volatility in this pair makes a lot of sense though, because there’s a lot of uncertainty out there when it comes to commodity markets. Remember, the New Zealand dollar is highly sensitive to the commodity markets, so this back and forth type of trading makes a lot of sense. Given enough time, I think the buyers probably come back, but the US dollar has seen a bit of a resurgence during the day. Currently, I feel comfortable on the sidelines.
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.
