The New
Zealand Dollar versus the US Dollar has been trading within a well-defined
range between the 0.7400 and the 0.7300. On the last two visits that the price
made to the 0.7400 area, we can notice that it has not been able to break above
that level and stay over it. Now the price has come back to the 0.7300 level
and it has formed what it appears to be a double top pattern. The confirmation
line or neckline is right on the 0.7300 level, which indicates that a possible
breakdown of that level could take the price all the way to the 0.7200 zone,
which has been a very important support level for the pair.
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Thanks for sharing your view.
ReplyDeleteVery nice tip I'll be watching NZD/USD.
ReplyDeleteGood analysis.
ReplyDeleteWell spotted! I'll keep an eye on it.
ReplyDeleteWell spotted!
ReplyDeleteGreat analysis, thank you!
ReplyDeleteVery useful analysis.
ReplyDeleteVery good post. Thank you very much!
ReplyDeleteWell spotted I will keep an eye on the market.
ReplyDelete