NZD under pressure once again (monthly)

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
The neckline to the double top pattern at 0.74 has once again come out on the winning side, the confluence of the daily up sloping channel and a descending one. The formation of a daily shooting star adds proximity to a hurdle.

With the weekly RSI closing in on resistance, upside is likely to remain capped.

In the short term a correction towards 0.7060 of the recent rebound is likely


good work..I'm long GBPNZD longer termso all best matey
+2 Reply
TheBanker Emilio1
@Emilio1, hey Emilio, thanks for your comment - gbpnzd looks like you have found the rainmaker, whats your target?
+2 Reply
thanks for this! nzd seems poised to drop this week
+1 Reply
TheBanker darkmobility
@darkmobility, thanks bud, indeed last weeks inside bar has opened the gates!
Thanks for your analysis mate. I think it is going further down now because of fundamentals. Good luck!
+1 Reply
TheBanker Trader_Dale
@Trader_Dale, hi mate thanks for your kind comment, you are exactly right! All the best with your position(s)
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