We do stand at a very important area around the major weekly resistance level 1.08280. The question is will we continue up, move sideways, or start to turn down from here...??
It seems unlikely that we will continue up from here without a fight!
To continue we need a close on Friday above the weekly resistance around 1.08394, and then there is the risk for a...
A close today below the daily support around 125.640, could take us all the way down to the next weekly support level around 124.263...
If we close below the daily support 125.640 today, it might make sense to go short on a retest, if price action looks bearish.
We need a close today below the daily resistance around 0.71650, for this to be a healthy retest!
A close between the two daily resistance levels 0.71650 & 0.71785, could imply that the market is building up a bigger position, to move the market in both directions. Price action will then be the key to find direction!
A close today above the daily resistance...
It seems like we might get a short term correction on NZDUSD
There is high odds for a correction if we get a close below the daily support trendline around 0.71115 (20.01.21). It might make sense to go short on a retest on the weekly resistance around 0.71550.
it looks like we have a bigger player building a short position and might be ready to finish up before...
