NZDDKK: Buy Opportunity within a tight long term range.

NZDDKK is currently consolidating on the 1W frame being near the top of the 1M Support Zone, hence the neutral technical action (RSI = 42.912, MACD = -0.030, Highs/Lows = -0.0155). The 1W Resistance is at 4.5000 and this is the level we are targeting following this month's strong bounce on the top (4.2600) of the 1M Support Zone.

Ideally the 1W MA200 (orange line) should provide Resistance just above our target and keep the pair neutral on the long term. Keep in mind that the dominant long term pattern is a Descending Triangle on 1M and only a break below the 1M Support (4.1440 bearish) or above the Lower High trend line (bullish) can change that. Until then we will get opportunities both ways.





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