NZDUSD was weak last week despite the Dollar's weakness.
NZDUSD closed the trading week with a new daily low.
The Cup and Handle pattern is ready to be triggered - The trigger will be with a breakdown of the 0.685-0.69 support zone.
In case of a breakdown, next target zone for NZDUSD is 0.67
But, if NZDUSD will rally and close back up above 0.69, it can trigger a false break scenario and send NZDUSD once again to test the psychological level 0.7.
Focus on 0.685-0.69 this week and use these trading scenarios if you agree with them.
You can read more about this setup and other trading scenarios in my weekly newsletter.
NZDUSD closed the trading week with a new daily low.
The Cup and Handle pattern is ready to be triggered - The trigger will be with a breakdown of the 0.685-0.69 support zone.
In case of a breakdown, next target zone for NZDUSD is 0.67
But, if NZDUSD will rally and close back up above 0.69, it can trigger a false break scenario and send NZDUSD once again to test the psychological level 0.7.
Focus on 0.685-0.69 this week and use these trading scenarios if you agree with them.
You can read more about this setup and other trading scenarios in my weekly newsletter.
0.71 is a resistance