NZDUSD: Structure Analysis & Complete Indecision 🇳🇿🇺🇸

Jun 16, 2021

NZDUSD is trading in a sideways.
Since April the market is trading within a wide horizontal trading range.

0.711 - 0.7145 is its support
0.729 - 0.7315 is its resistance

For range trading, consider its boundaries.
Buying from support and selling from resistance, you can catch nice moves.

To catch the next swing move,
wait for a breakout of the range's support/resistance:

• In case of a support breakout (daily candle close below),
  the price will most likely drop lower.
  Goal will be 0.696 (the next daily support)
  
  
• In case of a bullish breakout (daily candle close above),
  the price will keep growing.
  Your goal will be 0.744 (the next daily resistance)
  

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Jun 17, 2021

Note

Check my new analysis on USDJPY: