NZDUSD Trade Idea
In yesterday's analysis, I expected NU to re-test the 0.7218 resistance zone (previously double top rejection) followed by further sell-off possibility, which was exactly what the market performed. The recent price action of NU has been range bound but showing clear lower high sequence. In today's trading session, I will be focusing on short-term selling opportunities with 0.7165 & 0.7095 support zones as targets. However, if we notice some bullish pressure steps in breaking above the 0.7218 resistance, that could expose 0.7238 resistance zone, do not forget the overall trend on the higher timeframe remains bullish. Avoid having an extreme target as the current condition is slightly choppy.
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.