4:00 PM (EST) Update
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|