Trade of the Day NZDUSD

NZDUSD is testing the strong upside resistance

 

NZDUSD is testing the upside resistance 0.7160. Failure here could lead to a prolonged downside swing to 0.6800. A confirmed break above this resistance is required for the reversal higher to touch the 5th wave again. The 5th upside wave will be invalidated upon a break below 0.6800.

Note: look for the short trade entries with the stop loss above 0.7200

NZDUSD price action analysis

 

 

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