The New Zealand dollar initially fell on Tuesday, but broke higher and exploded to the upside. This market continues to consolidate between the 0.7330
The New Zealand dollar initially fell on Tuesday, but broke higher and exploded to the upside. This market continues to consolidate between the 0.7330 level, and the 0.7225 level. With this, we continue to see a lot of volatility, but I think the market is somewhat directionless. Short-term back and forth trading might be buying opportunities as well as selling opportunities, but I would be very quick to take profits. The volatility continues to form a reasonably clear trading range, and until we break out of there, I don’t think there’s much to do more than quick scalping.
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.
