NZDUSD is testing the monthly high for the first time, and there is an opportunity for a short entry back to the support level.
Here are the details:
The monthly high at 0.62498 is the key level here, and as the market is testing it for the first time, we are looking for the resistance level to hold. The longer the market holds below 0.62498, the more likely it is to pull back.
Preferred Direction: Sell
Entry Level: 0.62474
Stop Level: 0.65089
Target Level: 0.61809
Technical Indicators: 20 EMA
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