NZDUSD - Bearish Pressure Returns
Greetings Fellow Traders,
I wanted to bring attention to interesting price action that finished off the trading day for Wednesday this week. NZDUSD's Weekly Bearish Strength is a long ways off from testing, but there is good reason to believe that the lower support for bearish continuation will soon break.
Long story short, keep an eye out for the .64000 level to be broken on a Daily Confirmation. Should this happen we will be making a pass at a medium term bearish continuation. Ultimate targets could rest in the .50-.60 region.
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I wanted to bring attention to interesting price action that finished off the trading day for Wednesday this week. NZDUSD's Weekly Bearish Strength is a long ways off from testing, but there is good reason to believe that the lower support for bearish continuation will soon break.
Long story short, keep an eye out for the .64000 level to be broken on a Daily Confirmation. Should this happen we will be making a pass at a medium term bearish continuation. Ultimate targets could rest in the .50-.60 region.
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Komen:
NZDUSD has a lower time frame entry set up, if you're looking for shorter term trades. Also note where the market reversed during today's trading, old support = new resistance
