NZDUSD: Now at Juncture!
The NZDUSD was under very strong pressures, and reached all of my downside targets which i mentioned in my earlier forecaste for the pair, see related link below.
Watch-out, the price is a key technical juncture:
-Retested the long term 200-days SMA
-Retested the main rising trend line for the overall bullish trend
-Formed a bullish hammer at this key support area
-0.8415 is a key horizontal support
The odds are in favor of a bullish rebound, and therefore I expecting a move higher, targeting 0.8530 as an initial target. Alternatively, if we break lower below 0.8415 i would reverse my view, and look for more strong bearish bias.
Good luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
Watch-out, the price is a key technical juncture:
-Retested the long term 200-days SMA
-Retested the main rising trend line for the overall bullish trend
-Formed a bullish hammer at this key support area
-0.8415 is a key horizontal support
The odds are in favor of a bullish rebound, and therefore I expecting a move higher, targeting 0.8530 as an initial target. Alternatively, if we break lower below 0.8415 i would reverse my view, and look for more strong bearish bias.
Good luck , join me at twitter.com/thefxchannel
Also at my Facebook page thefxchannel.com
My best regards,
Technician
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.