nzdusdanalysis

Nzdusd - Daily timeframe - Pullback due for this pair, expecting a sharp decline into the nearest fresh demand zone. great risk to reward on this trade

Sitting perfectly in an important zone which can be seen clearly on the 4hr and daily charts. I will be sitting and waiting for this pair to breakout to the upside and potentially reach 0.7550 area. One to watch for now and sitting inside the watchlist, maybe a clear break of the 4hr trend line could be enough...

I'm in this down to the demand zone and psychological level of .7200 - Gets busy later on with US news so will be watching closely.

At the moment we have NZDUSD following a nice bullish channel, it has broken the daily trendline (dotted) however rejected a resistance level of 0.68961. I will now be watching to see whether it continues to follow the bullish channel upwards if it falls to the trendline and rejects. If it does reject the trendline and remain bullish I can see it then breaking the...