Talking Points
- Strategy: Flat
- Bearish Reversal Signals Lacking On The Daily
- Intraday Range Leaves More Constructive Setup Desired
NZD/USD remains buoyant with a lack of key reversal candlestick patterns casting doubt on a potential pullback. Yet the scope for further gains may be limited by sellers sitting nearby at the psychologically-significant 0.8000 handle.
NZD/USD: Bearish Reversal Signals Remain Lacking
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
A narrow intraday range on the four chart offers few reliable candlestick patterns to work with. This leaves a more constructive setup desired to offer a clearer technical bias for the pair.
NZD/USD: Intraday Range Leaves Clearer Cues Desired
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
Follow David on Twitter: @DaviddeFe
To receive David’s analysis directly via email, please sign up here.
Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.
