NZD/USD 4 Hour: Moving inside a triangle
Suggested positioning: Short positions below 0.75 with targets at 0.74 and 0.73 in extension
Technical reasons why: The pair is moving inside a triangle while testing the Ichimoku cloud. The RSI is heading down towards the neutrality area. So far the pair hasn’t been able to break above the Ichimoku cloud and a break below the triangle could open doors for more drops
Alternative Scenario: Above 0.76 look for more up moves towards 0.768.
Where to set your stops and limits:
Support Levels | Turning Point | Resistance Levels |
---|---|---|
0.74 | 0.75 | 0.768 |
0.73 | 0.76 | 0.78 |
![](https://investdiva.com/wp-content/uploads/2024/07/195507433_277762383857508_5258379056395561164_n.jpg)
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