The NZD/USD pair rose to the all-important 0.8000 number and promptly fell. The 0.8000 level is in our opinion a massive resistance area, and will have to
The NZD/USD pair rose to the all-important 0.8000 number and promptly fell. The 0.8000 level is in our opinion a massive resistance area, and will have to be overtaken in order to get long the Kiwi for any real length of time. The fall was quite rapid, and the snap back does go in line with the overall trend, which is also down. This gets us selling rallies, or a break of the Wednesday lows.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
