The New Zealand dollar broke higher during the week, bouncing from the 0.7150 level. The market found resistance near the 0.7350 level, and ultimately, I
The New Zealand dollar broke higher during the week, bouncing from the 0.7150 level. The market found resistance near the 0.7350 level, and ultimately, I believe that if we can break above the top of this candle, the market should then go to the 0.75 handle above. Ultimately, the market breaking above the 0.75 level is a very bullish sign. I think that the market could find bullish pressure given enough time, but I think that there is plenty of noise out there to knock this market about. I have no interest in shorting however.
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.
