NZDUSD Trade Idea
In the previous analysis (Saturday/ 2nd Jan), I expected NU to re-test 0.7171 technical support for further bullish continuation. From the price action perspective, I can see that in the short-term, current price is under the sellers' territory due to the over-extended condition and the strong selling pressure. Will remain neutral bias at the moment, pay attention to 0.7216 minor resistance, ideally we want price to reject from there with bearish candlestick pattern as our entry trigger towards 0.7171 support level. If price continue its bullish momentum, will be looking at potential long opportunities with some pullback/ exhaustion patterns (Eg. flag, pennant, etc.).
Trade safe.
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Trade safe.
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Note
Previous analysis
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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.