NZDUSD Update

Hello Traders,

today i will trade again the NZDUSD for three reasons:

-The first reason is that the FOMC will most likely not raise interest rates from September, considering that interest rates at 5.25%-5.5% on the dollar are at 22 year highs and inflation seems to be slowing down (at least in the markets).

-The second reason is that with a drop of 133 pips in 2 days, it should be retraced, having left several levels of liquidity as you can see on the chart by Volume Profile.

-The third reason is the good volatility of the pair.

It is an intraday operation and I will most likely not take anything overnight.

Levels to watch:

Resistance at 0.6152 - 0.6175 targeting 0.619 or the 0.5 Fibo's
Support at 0.6133- 0.611 Stop below 0.611
Point of Control 0.6210
Chart PatternsTechnical IndicatorskiwidollarNZDUSDnzdusdanalysisnzdusddailynzdusdforecastnzdusdlongnzdusdsetupnzdusdtradeTrend Analysis

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