The daily has crossed the 20/50/100 moving averages, and if it closes as a bullish engulfing candlestick in the next 8 hours, this would be a strong higher time frame indication suggesting NZD bullish power. The 4-hour candlestick closure, crossed all the moving averages and broke past a recent area of resistance. We might expect a pullback towards the area of sensitivity or MAs. Bear in mind we have a psychological level @86.000 if that's broken-potential move up. Both currencies are being sold off, so the trade might be a slow burner. Later today we have JPY unemployment rate news.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.