NZDUSD BEARISH IDEA
NZDUSD
Since 07 July 2020, NZDUSD has been Trading in a range trend between 0.65356 and 0.74596.
Why this matter?
In 28th of April 2022 the strong support for year and months got broken, and later on it has traded for recovery from 065203 to 0.65646 however buyers lost stem to drive market again.
The NZDUSD is now Trading below major resistance which has been holding as support for long, the next major support level is 0.59479 which has been holding since March 2020.
It's now Trading within the support area of 0.9920, it is very possible to get broken where seller may tend to drive the market to form double bottom.
Important key here is:
FOMC may be an important focus, if FED keep the rate hike 75bps or 100bps, then the hawkishness of FED may drive the market to the ultimate hell.
Here I focus on the support area 0.59479 for breakout.
Since 07 July 2020, NZDUSD has been Trading in a range trend between 0.65356 and 0.74596.
Why this matter?
In 28th of April 2022 the strong support for year and months got broken, and later on it has traded for recovery from 065203 to 0.65646 however buyers lost stem to drive market again.
The NZDUSD is now Trading below major resistance which has been holding as support for long, the next major support level is 0.59479 which has been holding since March 2020.
It's now Trading within the support area of 0.9920, it is very possible to get broken where seller may tend to drive the market to form double bottom.
Important key here is:
FOMC may be an important focus, if FED keep the rate hike 75bps or 100bps, then the hawkishness of FED may drive the market to the ultimate hell.
Here I focus on the support area 0.59479 for breakout.
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