Our preference: short position below 0.6915 with targets at 0.6870 & 0.6850 in extension.
Alternative scenario: in excess of 0.6915, aim for a continuation of the increase with 0.6950 & 0.6970 in the line of fire.
Comment: as long as 0.6915 is resistance, trading range with a bearish bias.
CBR Key Level + Fibo 261.8 will be the critical decision point.
Looking for Reversal Pattern when it reach to that zone. (If the zone does not break)
This might be temporary pullback. We will see.
Looking for short...
Nzdusd has rejected from 200 EMA on H4 time frame. This zone will be strong resistance for this pair in future. Now this pair is staying below near term resistance at 0.6970. Below this level, we can look for sell and target will be 0.6900 area as pointed on the chart.
A potential Head & Shoulders Pattern appeared.
If the price breaks the support zone near 0.70xx, look for any pullback to short this pair.
It will be a high risk to reward ratio pair of 1:3!
Remember to trade with proper risk management.