As a result of yesterday’s dynamic depreication NZDUSD broke local support at 0.7255, where the price was for few days. Note that sinceyesterday evening we observed a calm upward correction and support (now resistance) coincides with the 38.2% Fibo correction. Its re-test and rejection could be a signal for declines. In short term, we can consider opening short position on NZDUSD.
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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.