The NZD/USD pair rose during the day on Wednesday, testing the 0.73 level. However, there was quite a bit of bearish pressure during the previous session
The NZD/USD pair rose during the day on Wednesday, testing the 0.73 level. However, there was quite a bit of bearish pressure during the previous session so I would anticipate that sooner or later the sellers may return. If that’s the case, I would be willing to sell an exhaustive candle. Also, if we can break down below the 0.72 level, that is not only a sell signal, but a very strong one. If we were to break above the top of the candle from the Tuesday session, I believe at that point in time the market would reach towards the upside yet again and try to get to the 0.75 handle above.
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.
