themarketzone
Short

This Sell Zone may be interesting towards RBNZ rate decision

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
$NZDUSD exploded higher as the rest of the Majors due to the Dollar's weakness last Friday.
Now it is reaching an interesting resistance zone - One that has generated nice bearish moves in recent weeks.

Broken uptrend line - Now should act as resistance
Psychological level and daily structure zone
PRZ of Harmonic patterns .

Interesting potential Sell Zone towards RBNZ rate decision - especially when rate cut is expected.

Look for intraday reversal signs inside the 0.7 resistance zone . Stop loss should be at least above 0.705 (recognize reversal first)


Tomer Jakov, The MarketZone

This analysis is part of the Weekly Markets Analysis newsletters
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Comment: No rate cut - No trade.
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