NZDUSD: Structure Analysis & Complete Indecision 🇳🇿🇺🇸
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NZDUSD is trading in a sideways.
Since April the market is trading within a wide horizontal trading range.
0.711 - 0.7145 is its support
0.729 - 0.7315 is its resistance
For range trading, consider its boundaries.
Buying from support and selling from resistance, you can catch nice moves.
To catch the next swing move,
wait for a breakout of the range's support/resistance:
- In case of a support breakout (daily candle close below),
the price will most likely drop lower.
Goal will be 0.696 (the next daily support) - In case of a bullish breakout (daily candle close above),
the price will keep growing.
Your goal will be 0.744 (the next daily resistance)
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Nota
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