After strongly anticipated USD strength throughout the week so far, NZDUSD may also be looking to find its way relatively lower by the week's close. Price retraced onto highs last seen in the pair during sometime mid-March this year, and is now bound within a wedge, hoping to give further direction once a breakout occurs. Being slightly above Key level 0.72500, and if price decides to break and close below the current Key level, Support may turn Resistance, a break in the H4 trendline at Point D may also occur and we could see a move all the way down to 0.70000.
A relatively longer-term perspective may also be price after dropping to lows of 0.69500, retraced back onto 0.73000, and with the help of the Fib Retraement, price then hit the famous 61.8% and if relatively higher-timeframes Lower highs are formed, price may confirm sink all the way to 0.70000 first before any further movement towards next Key level Support 0.67500. Thank you for tuning in!
#charter_box
#walkittalkit
A relatively longer-term perspective may also be price after dropping to lows of 0.69500, retraced back onto 0.73000, and with the help of the Fib Retraement, price then hit the famous 61.8% and if relatively higher-timeframes Lower highs are formed, price may confirm sink all the way to 0.70000 first before any further movement towards next Key level Support 0.67500. Thank you for tuning in!
#charter_box
#walkittalkit
