NZDUSD: Sell Signal Lacking Momentum
Strategy: Pending Short
NZDUSD continues to drift along a slightly upward-sloping trajectory since completing a Dark Cloud Cover candlestick pattern on February 21. Technically, prices have not overturned the bearish signal but follow-through has clearly not materialized. We will stand aside until sellers demonstrate meaningful momentum, looking at least for a close below 0.8241 as confirmation to enter short.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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