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MarcellusLUX

NZD/USD sell opportunity after RBNZ induced spike

Short
New Zealand Dollar / U.S. Dollar (FX:NZDUSD)  
MarcellusLUX  
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis NZDUSD nzdusdshort nzdusdtrade nzdusdanalysis nzdusdsell nzdusddaily nzdusdbreakout
31
6
trendanalysis chartpattern beyondta nzdusd nzdusdshort nzdusdtrade nzdusdanalysis nzdusdsell nzdusddaily nzdusdbreakout
NZD/USD has spiked up after the RBNZ meeting. Market participants
reacted positively initially and hence, NZD/USD has spiked up to the resistance
level.

However, the spike may be faded very soon. Price has reached a strong resistance
level and it seems like the bulls might not be able to break it.

So, based on bearish price action, sell NZD/USD@0.7301-0.7320 with SL above
0.7350 and TP at 0.7180
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