The NZD/USD pair rallied during the course of the session on Friday, but found the 0.7250 level to be resistive enough to turn things back around and form
The NZD/USD pair rallied during the course of the session on Friday, but found the 0.7250 level to be resistive enough to turn things back around and form a bit of a shooting star. Because of this, I think that the market will pullback, at least in the short-term. With this, I feel that it’s only a matter time before the sellers get involved, but if we can break above the 0.72 level, the market could very well continue to go much higher at that point in time. A break down below the 0.70 level would be massively resistive.
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.
