The NZD/USD pair rallied during the day on Tuesday, but found enough resistance above the 0.70 level to turn things around and form a hammer. It looks as
The NZD/USD pair rallied during the day on Tuesday, but found enough resistance above the 0.70 level to turn things around and form a hammer. It looks as if the New Zealand dollar is ready to continue to go lower, and perhaps reach towards the 0.6850 level below. Ultimately, I have no interest in buying into we break above the top of the range for the session on Tuesday. If we do, then I believe the market could bounce significantly. Given enough time, I believe that the market continues to drop from here.
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.
