capitalpropertiesfx

NZDUSD - weekly bearish scenario

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
67 0 1
Even though price broke the main weekly trendline to the upside, the whole move from the lows looks "fishy" and definitely does not have an impulsive look (at least not yet). Also, it is fairly common for the market to make at least couple of false breakouts before eventually turning. All in all, if indeed this breakout turns out to be a fake move, then I'll be looking for values below 0.7000 to be reached but also to provide strong support.
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