OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
In the recent analysis (15th Jan, Friday), I expected NU to reject the 0.7237 minor resistance zone as I noticed there are tons buyers jumping into bullish side due to the upwards breakout of the trendline. I then discussed about the failure (trendline probe) with bearish rotation back towards 0.7171 support zone with increased selling pressure with 0.7094 support zone as the target, which was exactly what the market performed. Currently will be looking for short-term selling opportunities, potentially a re-test at 0.7161 resistance zone for further bearish continuation setup with 0.7094 support zone as the initial target. However, be aware that there are plenty of minor zones, avoid having your targets too far. Do not forget the overall trend on the higher timeframe remains bullish .

Trade safe.

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Comment: Friday's (15th Jan) analysis

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Comments

Thank you so much
+1 Reply
TraderNeoh Dave-FX-Hunter
@Dave-FX-Hunter, Cheers!
Reply
Great analysis man.
+1 Reply
TraderNeoh Tessymed
@Tessymed, Cheers.
Reply
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