NZDUSD Short-term Technical Outlook
Yesterday's short-term technical outlook:
Intraday price was unable to break above the .6926 figure in the previous short-term technical outlook. This resistance kept buyers in check and knocked price down. However buyers fully recovered and are checking the figure again. Expecting a squeeze to break out of the resistance.
Above .693 see .6948.
The latter is the next key institutional resistance level which should keep buyers in check. Only a sustained break above will expose strong institutional resistance at .6972.
I do not anticipate a break above the .6972 strong resistance level and fully expect to see pending orders near the figure. A push up into the figure will likely be matched with a swift sell-off by such short orders.
I hope this offers some directional clarity on this pair!
Enjoy!
Intraday price was unable to break above the .6926 figure in the previous short-term technical outlook. This resistance kept buyers in check and knocked price down. However buyers fully recovered and are checking the figure again. Expecting a squeeze to break out of the resistance.
Above .693 see .6948.
The latter is the next key institutional resistance level which should keep buyers in check. Only a sustained break above will expose strong institutional resistance at .6972.
I do not anticipate a break above the .6972 strong resistance level and fully expect to see pending orders near the figure. A push up into the figure will likely be matched with a swift sell-off by such short orders.
I hope this offers some directional clarity on this pair!
Enjoy!
