NZDUSD - Long Possibility
Currency Pair: NZDUSD
Frequency: 4H
Predicted direction: Long
NZDUSD pushed higher to break resistance at 0.74848 since early Sep 2016. After failing to sustain the level, the price has dropped back to the R & S (shown in the graph).
Resistance remains at 0.74946 - 0.5613. Since DXY found a support at 93.25, I expect a correction on NZDUSD to be pushing back to R&S or further drop back to 23.6% Fib level.
However, once the resistance has been broken, then a continuous bullish momentum is expected.
Frequency: 4H
Predicted direction: Long
NZDUSD pushed higher to break resistance at 0.74848 since early Sep 2016. After failing to sustain the level, the price has dropped back to the R & S (shown in the graph).
Resistance remains at 0.74946 - 0.5613. Since DXY found a support at 93.25, I expect a correction on NZDUSD to be pushing back to R&S or further drop back to 23.6% Fib level.
However, once the resistance has been broken, then a continuous bullish momentum is expected.
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