(1) The NZDUSD has been trading in a sideways range since late September low at 0.7706. Range: (0.8035-0.7659)
(2) This sideways range comes in the context of a started from 0.8835 High in July.
(3) The recent bounce of the range support was interrupted at the 50-days . Where downside pressure was seen again. and price has entered a minor short term .
(4)A candle at the 50-days and top of minor channel,
(5) momentum is breaking its rising
Possible Outlook: There is a potential for further downside pressures in the near term as long as the high of the candle is intact. Potential downside targets at recent low 0.7765 then near the range bottom at 0.7670.
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I went in for sell two days ago, and although movement has been a bit slow initially we seem to be heading in the right direction now :). Your targets are deeper than my expectations, andmay move my TP target to the range you stipulated. good luck!