NZDUSD New Buying Opportunity?

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
14 0 8
The NZDUSD             has been a slow mover lately. It took sellers fifteen sessions to move just 150 pips.

However, Wednesday’s close below 0.6970 was a significant development. This level is the November 2016 low and is also an area that has served as a pivot since March of last year.

As assurance that 0.6970 is now resistance, both Thursday and Friday encountered substantial selling pressure above the area. Therefore, any rotation back to 0.6970 could offer a favorable opportunity to get short.

Do note, however, that the March lows at 0.6890 will likely attract a bid if tested. As such, any position I take here will be a short-term play.

Have a great week!

Check the upside technical analysis .

Performed by analytical expert: Urban Stamcar
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out