Hello traders, this is the full breakdown of this pair. We will take this trade if all the conditions are satisfied as discussed in the analysis. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
With the NZDUSD pair crossing below the 100 MA and 200MA but consolidation within an upward channel(blue lines), with evident more pressure towards the breakout to a full bearish bias. Waiting for the market to play out of the channel will provide clearer insight as to its direction.
NZDUSD - looks like short-term down (30-50 pips), then up, but let's see..
Price gets rejected from the H4 resistance level, which can send the price back to the H4 support level(s) - 0.6800, where I'll be looking for long opportunity.
If price (directly) break above the resistance level, I'll be looking to take a long above 0.6850 with 1st target 0.6900, then...
