NZDUSD: Losses Eyed Amid Congestion
NZDUSD put in a bearish Dark Cloud Cover candlestick pattern below resistance at 0.7827, the 76.4% Fibonacci retracement of the rally from December’s swing low. However, heavy congestion over recent weeks makes projecting a clear course from here with confidence a tough proposition. We will remain on the sidelines for now until positioning reveals a better-established directional bias.
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