The NZD/USD pair initially tried to rally during the course of the day on Tuesday, but turned around to form a shooting star. With this being the case,
The NZD/USD pair initially tried to rally during the course of the day on Tuesday, but turned around to form a shooting star. With this being the case, looks as if we are going to continue to drift back and forth, perhaps to a lower level such as the 0.72 level below. That is a massive amount of support just waiting to happen, so I think this is a short-term back and forth situation going forward. If we did break above the 0.7350 level though, I feel the market will then reach towards the 0.75 handle.
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.
