NZD/USD had a bullish day on Friday as traders continued to get excited about a possible EU rescue package over the weekend. However, the recent
NZD/USD had a bullish day on Friday as traders continued to get excited about a possible EU rescue package over the weekend. However, the recent consolidation area wasn’t broken, and the real risks are for disappointment from the meeting – which would produce a “risk off” environment, and would be bad for the Kiwi overall. Because of this, we are not comfortable buying this currency unless we see a solid green candle at the close on Monday. Until then, we feel much more comfortable selling signs of weakness.
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.
