it's been a while since i talked about this pair, but generally, we were targeting short positions after it hit 0.7050. the market soon after rebound from that level, not long enough to show some weakness reaction from the buyers near to the resistance area around 0.7200 handles, where we resumed our short positions targeting 0.7500. 0.6990 and 0.6845 levels.
currently, the pair is trying to rally toward 0.6990 as it considers to be a minor resistance area along with the down trendline as it's shown on the chart graph.
with that being the case, I'm still bearish on the NZDUSD for now as there is no sign of strength yet, selling rallies would be the best option to trade this market for now.
currently, the pair is trying to rally toward 0.6990 as it considers to be a minor resistance area along with the down trendline as it's shown on the chart graph.
with that being the case, I'm still bearish on the NZDUSD for now as there is no sign of strength yet, selling rallies would be the best option to trade this market for now.