NZDUSD has formed a range and it's not coming out if it for now. Looking at the strong decline on 27th August, this pair has to extend its bearish run sooner. This pair is expended to face a strong resistance at 0.73 region and if the pressure is not withholding, it may be possible that it may decline again to 0.7210. Because 0.73 region has acted as a strong resistance multiple times in recent past. If in case, the pair has break above 0.73 strongly, it may be possible it will travel to 0.733 r…
ijayakumar's Blog
NZDUSD may find a momentum shift sooner
NZDUSD seem to contracting its movement on the topside which normally happens when the reversal is going to happen. In NZDUSD case, the contraction in price movement may happen for more time considering the red candle 11 August and 17 August (today). But in any case, going below 0.7190 may bring more red candles and it may be the starting of the reversal if we didnt notice third top. More bullish run may not be possible for time being but if by any chance, it may go above 0.7350 there may be a c…