Talking Points
- NZD/USD Technical Strategy: Pending Short
- Remains At A Critical Juncture Near 0.8260
- Awaiting Downside Break to Open 0.8060
NZD/USD continues to skip across the critical 0.8260 barrier with a medley of short body candles suggesting caution from traders. A daily close below the nearby floor would be preferred for entering new short positions, given the context of a downtrend on the daily.
NZD/USD: At A Crossroads Near Critical Barrier
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
The Harami noted in the most recent candlesticks report delivered a short-lived bounce for NZD/USD. The emergence of a Gravestone Doji now hints at a pullback for the pair over the session ahead. Buying interest is likely be renewed near the 0.8267 lows.
NZD/USD: Gravestone Doji Offers Warning Of Intraday Weakness
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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