SVENSSON_DK

NZDUSD - Healthy retest or false breakout ??

SVENSSON_DK Updated   
SAXO:NZDUSD   New Zealand Dollar / U.S. Dollar
We need a close today below the daily resistance around 0.71650, for this to be a healthy retest!

A close between the two daily resistance levels 0.71650 & 0.71785, could imply that the market is building up a bigger position, to move the market in both directions. Price action will then be the key to find direction!

A close today above the daily resistance around 0.71785 is likely to confirm a false breakout to the downside, and we start to move further up from here...
Comment:
We closed above the daily resistance around 0.71785, but I do like the price action, so will see how it looks like tomorrow morning. But the odds for higher prices are likely.
Trade closed: stop reached
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.