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Short

NZDDKK: Sell opportunity on the 2 year Resistance.

FX_IDC:NZDDKK   NEW ZEALAND DOLLAR / DANISH KRONE
The pair has been rejected last week on the 4.5000 1W Resistance with the price turning neutral already on the 1D chart ( RSI = 52.804, STOCH = 49.660, MACD = 0.020, ADX = 29.748, Highs/Lows = -0.0058). That level, along with the 1W MA200 (orange line) have applied selling pressure for 2 years now.

For that reason and due to the RSI also reaching its +1 year Resistance, we are turning into sellers on NZDDKK aiming at the top of the 4.2600 - 4.1630 Support Zone .

Note here that those levels and the current pattern have been very accurate in determining the most recent bullish leg started in September, as you can see on the successful signal posted 4 months ago below:






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