NZD/USD Might Drop from the POC Zone

2 min read
tarantula fx

tarantula fx

Head of Trading

The NZD/USD has been in a steady uptrend. Considering it is Friday today, we might see a rejection from the POC zone if the price gets there.

The NZD/USD has been in an uptrend but last two days we can also see a consolidation. The pair bounced from the trend line and weekly camarilla levels and at this point it is getting close to resistance. 0.7395-0.7410 is the POC zone and the price could reject from the zone possibly targeting 0.7363 and 0.7342. Watch for signs of exhaustion and reversals within the zone. The additional cue is ATR. Should the price reach the POC zone, the ATR will be full, so that is another cue for possible short trade.

Good trading,

Nenad Kerkez aka Tarantula FX

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