JohnKicklighter

NZDUSD Reversal or Tempting False Signal?

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
313 4 5
From a technical perspective, this is a familiar move NZDUSD             is making. It has broken a very consistent channel and is treating what was a former boundary as a new floor to a change in bearing. This can be a reversal but it could also prove a false signal. How do we further improve our confidence in this setup? Fundamentals.
In my view it seems destined to finally break through the resistance at 65.50 area today but stranger things have happened. I have set an alarm and will set what happens. On the 4 hour view that area has been hit about 15 times so when it goes, it's going to drop nicely I think.
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Hello,

would love to know what the fundamental suggest about the direction.?
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bloodbath Technician
I couldn't care less about fundamentals. Just following highs and lows in my timeframe of preference in order to establish bias.
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Next Dairy auction on 4th of August.
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