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NZD/USD Forecast September 7, 2017, Technical Analysis
Updated: Sep 7, 2017, 04:10 GMT+00:00
The New Zealand dollar had a negative session on Wednesday, as the 0.7250 level has offered significant resistance. It looks as if we are testing the 0.72
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The New Zealand dollar had a negative session on Wednesday, as the 0.7250 level has offered significant resistance. It looks as if we are testing the 0.72 handle for support, and I think that if we break down below there, the market could go as low as the 0.7150 level. This is a market that has been bullish as of late, but this sudden turnaround only as to the volatility. If we are in a “risk off” situation, this pair could very well roll over significantly. However, if we start to see buying pressure in assets around the world, this pair typically rises with positive attitudes.
NZD/USD Video 07.9.17
About the Author
Christopher LewisSenior Analyst
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.
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