By FX Empire.com
The NZD/USD pair fell hard on the Tuesday session as traders continue to sell off risk-related assets globally. The Kiwi will be highly sensitive to commodity markets, and as they sell off – so will it. The 0.8000 area that we find ourselves in is a massive consolidation range from before that could present itself as support. The breaking of 0.79 will send this pair much lower as this would show that the fear is still in the market. The buy side can’t be bought into until we see supportive daily candles in this area.
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