NZDUSD has formed a double bottom and closed on a very bullish weekly candle. This could be the indication of a trend reversal. Price has reached a strong resistance level which coincides with the descending trend line.
The prior week candle showed strong rejection from the support at .71700
If we get a breakout re-test of the support level I will look to get long.
The prior week candle showed strong rejection from the support at .71700
If we get a breakout re-test of the support level I will look to get long.
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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.