NZDUSD has broken through previous high (0.7607) and it is showing a pullback. 0.7575 region shows confluence (previous 4 time bottom rejection, 50.0) and the price might bounce from that spot. However 0.7560-50 region shows stronger confluence (DPP, L3, 61.8, trend line) and the pair might pullback to the zone and reject towards H4 -0.7665. We need to pay close attention to the price if it pullbacks to the zone as we have building permits + unemployment news later in the day which will also influence the move for the pair. Yesterday NZD performed very strong (NZDJPY has reached the target) and due to pattern -inverted head and shoulders variant and technical picture the pair could proceed higher.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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