traderpulse

Has NZD/USD reversed its trend?

Long
FX:NZDUSD   New Zealand Dollar / U.S. Dollar
We can't say for sure as of now. The 21 EMA has crossed the 55 EMA which indicates a Bullish Strength. But, it is currently kissing its 200-SMA and at a strong price action resistance zone. For now, we can expect profit booking in the counter and a pullback is imminent. Traders can expect a retracement till 0.67008, and if it bounces off from those levels and crosses the 200-SMA with a strong bullish candle, then we can say, the trend has reversed.

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