Wirehair

Are the bulls wearing out?

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
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1
It's a magnificent battle. The last 4 trading days bulls have managed to briefly push price above the high from May, only to be beaten back and see the day closing just a few pips below. From a technical perspective there are a few signs that the bulls are wearing out, including bearish divergence and a yet to be confirmed double top (see chart)
For now the uptrend remains intact, but to see it continue we need a daily close above 0.8780. Do the bulls have enough dry powder left to accomplish that?

Comments

m looking at this too..... same view ! bearish
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