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Short

Short NZD/USD rallies for 0.73

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
323 2 12
2 months ago
NZD/USD             is extending downside from multi-month highs at 0.7485.

Techs have turned bearish after break below 5-DMA support at 0.7383.

Stochs have rolled over from overbought levels and RSI is biased lower.

Positive comments from Fed's Rosengren support USD.

Major support levels - 0.7319 (10-DMA), 0.73, 0.7293 (20-DMA), 0.7207 (50-DMA)

Major resistance levels - 0.7382 (5-DMA), 0.74, 0.7413 (session high)

Good to sell rallies SL: 0.74, TP: 0.7320/ 0.73
2 months ago
Comment: All targets hit. Bias remains lower.

Book partial profits, stay short for 0.7240/ 0.72

Bearish invalidation above 0.7375
Marz14n
2 months ago
I see that you use the daily chart for this analysis, on basis of which i would normally look to the 4h chart to find entries/exits. However, I am suspecting that the 45 min. chart might help more considering the relative distance between SL and TP1/TP2. Would you agree? Just asking to learn :)
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dchua1969
2 months ago
NZD has been a very strong currency among the major pair thus far. I too think that it will go lower to the 20 day EMA as you said and then rebound higher... i checked DXY daily chart and it has also hit the lower channel of the symmetrical triangle and had rebounded since 8 Sept and also crossed the 5 day EMA with the closing price kissing the 20 day EMA. Best of luck !
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