Coming out of a previous risk off week, profit-taking has been completed. Moving forward, the weakness of the US dollar can seek to continue surrounding the increasing US lockdowns, increasing number of Covid-19 cases across US states, uncertainty involving the Trump-Biden election outcome, a lull over the much expected stimulus package & impatience for a Vaccine. Riskier currencies can be EXPECTED to rise in the midst of it all. NZDUSD is consolidating between two levels of major S/R from Sunday's open. A POSSIBLE break & retest above can confirm a Bullish HH, HL bias, supported by US Dollar weakness & an ascending trendline.
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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.