Technically NZDUSD has breakout of the consolidation phase and manage to break the trendline last week.
Look for sell opportunity if it reverse to retest the previous resistant till 0.6760 for better RR, while short term selling opportunity till 0.6760 if it break below 0.6800.
The pair bearish move was drive by the lockdown of the region announced last week just one day before of the RNZD rate statement of which the bank decided to hold on their rate hike.
Jackson Hole Symposium at coming weekend, where traders likely to get a clue from FED chair for more information on the tapering of which may add a catalyst on the bearish outlook for KIWI till 0.6650+-.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority
Look for sell opportunity if it reverse to retest the previous resistant till 0.6760 for better RR, while short term selling opportunity till 0.6760 if it break below 0.6800.
The pair bearish move was drive by the lockdown of the region announced last week just one day before of the RNZD rate statement of which the bank decided to hold on their rate hike.
Jackson Hole Symposium at coming weekend, where traders likely to get a clue from FED chair for more information on the tapering of which may add a catalyst on the bearish outlook for KIWI till 0.6650+-.
Remarks from author
1)This analysis does not represent long or short trade immediately, it is solely on the author analysis
2)Trade at your own risk with proper lot sizing and follow your own trading plan
3)Risk management is always be the top priority