FX:NZDUSD   New Zealand Dollar/U.S. Dollar
192 1 6
Hourly, View
_VincentP_
a year ago
It broke lower. Fundamentally and technically we are still very much in a short trend than a long trend.
The market was oversold due to never getting a breather from the heavy selling since the beginning of the year. For some reason bigger institutional traders never took profits at bigger zones like 0.6750 - 0.67.
Oil also took a breather but the prices of the commodities are still under pressure and while they are low, Australia and New-Zealand will feel it.
that's how I see it at least. Just like the 19th we will remain here till Sunday. On this hourly shart I'm also seeing a head and shoulders with the neckline just broken through. Beginning of next week 0.6430 and at the end of the week a retest of 0.6350?
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