Short to medium term bearishness but value is to the upside
We were expecting some choppiness for this pair. It did not find the upside that we predicted but the path of least resistance for value continues to be to the upside. If we look at the longer time frame, we can see that the NZDUSD could find support near the 0.675 to 0.68 levels. We expect some choppiness to either side.
BULL CASE
Price can move up first to liquidate areas of value before finding strong support near the 0.675 to 0.68 levels.
BEAR CASE
Price can choose to move down immediately to the 0.675 to 0.68 levels but should find quick support to push price back up.
BULL CASE
Price can move up first to liquidate areas of value before finding strong support near the 0.675 to 0.68 levels.
BEAR CASE
Price can choose to move down immediately to the 0.675 to 0.68 levels but should find quick support to push price back up.
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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.