NZD/USD Still in Uptrend but Watch for Divergence and Rejection

2 min read
tarantula fx

tarantula fx

Head of Trading

The NZD/USD is still in an uptrend as I showed in my previous NZD/USD analysis. However, the price has already gone above W H5.

The price is above the W H5, D H5 and close to the ATR top. Traders should look for signs of divergence and possible rejections from the 1.7030-50 zone. If the price drops, then watch for 0.6994 and 0.6960-70 POC (T) where price could bounce. The POC CT marks the zone for counter trend entries, and T is trend entries. An additional reason to see a drop today towards the POC (T) is Friday profit taking that should happen later in the day.



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