The NZD/USD pair went back and forth during the week, forming a neutral candle. We are currently at the 30.2% Fibonacci retracement level, so if we can
The NZD/USD pair went back and forth during the week, forming a neutral candle. We are currently at the 30.2% Fibonacci retracement level, so if we can break above the top of the candle I think we will reach towards the highs again that we had seen just above the 0.7350 level. Pullbacks should continue to find support at the 50% Fibonacci retracement level, so given enough time I think that the buyers will get involved. If we can break above the highs, we should then reach towards the 0.75 level.
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.
