NzdUsd- Will it break resistance?
Since the beginning of December, NzdUsd is trading in a range between 0.6750 and 0.6850.
Also, if we consider the spike down to 0.67 the head, we can argue an H&S pattern forming on our chart with the neckline at 0.6850
At this moment the pair is trading exactly in this resistance/neckline and, considering that the previous leg up from 0.6750 has impulse we can expect a break.
That being said, my preferred strategy is to buy dips and the target for bulls can be 0.7 important figure.
This scenario is negated by a dive under 0.6750
Also, if we consider the spike down to 0.67 the head, we can argue an H&S pattern forming on our chart with the neckline at 0.6850
At this moment the pair is trading exactly in this resistance/neckline and, considering that the previous leg up from 0.6750 has impulse we can expect a break.
That being said, my preferred strategy is to buy dips and the target for bulls can be 0.7 important figure.
This scenario is negated by a dive under 0.6750
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📈 Forex & XAU/USD Channel:
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💎 Crypto Channel:
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