Forex NZDUSD D1 Technical Analysis Our expectations:
Short trend and short-term long correction. Movement in the trend channel, the price has reached the upper boarder, allowing entry by the trend.
Price action: False breakthrough of a key zone of resistance, the price stays below.
Indicators:
False breakthrough 23.6% Fibonacci.
Test of 50SMA, MAs in a bearish formation.
DeMarker on neutral territory
SL: 0.664
Alternative Scenario: A verified breakthrough 0.66 will break key technical and psychological resistance and will most likely lead to a bigger correction.
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