NZD/USD has created an over extended market to the upside from a monthly perspective. In it's move to the upside it's currently approaching strong resistance. At the moment from a daily perspective everything is still bullish, but if the market should break support on a daily at around 0.72000 area we will be monitoring NZD/USD from a 4h perspective on the retest of previous structure waiting for the market to provide us with a valid entry. Our first targets will be at the 0.382 of the Fib taken on the monthly impulse.
Trade attivo:
Running risk free on this trade at the moment. Will make a new analysis soon to show how we can capitalize on the next move in the market.