NZDUSD Long Daily/4 hour

OANDA:NZDUSD   New Zealand Dollar / U.S. Dollar
This is a potential long on the NZDUSD . Daily price has pulled back into a swing level and may go up from here. I'll look for a break and close on the 4 hour.


But there is a problem. Difficult fundamentals to unpick. NZD and AUD are linked because of trade relations. The Aussie markets and dollar are likely to come under pressure due to recent drastic changes in housing and mortgages. That's likely to have a knock on effect to NZD economy and dollar (at the 1D time frame). Then there is the other problem of a pretty bullish US-Dollar Index which is following a 100 EMA at the moment. So I'm cautious. With NZD and AUD pairs. The recent bull run could be in trouble. But.. markets do strange things, so north is definitely possible.
memit Captain_Walker
@Captain_Walker, Thanks for your comment Captain and completely see your point. I am bullish on the US-Dollar index so will see how things play out.
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