July Hold Could Spell Further Downmoves (NZDUSD)..
Updated
Traders are now pricing in a preferred Sept cut for the FED, leading to slight strength/rebound momentum.
Antipodean currencies have taken a hit on China news, especially AUD, NZD following suite but more so on the encouragement to buy 'safer' currencies (as seen CHF/Yens/USD rise) on fears.
The technical level we have arrived at on NZDUSD (labelled) warrants reasonable technical bias for entry.
Risk remains due to sentiment factors and is somewhat reflected in the most recent price action momentum.
If we do drift lower, Price Action (long) levels may be preferred for entry at relatively recent lows.
Antipodean currencies have taken a hit on China news, especially AUD, NZD following suite but more so on the encouragement to buy 'safer' currencies (as seen CHF/Yens/USD rise) on fears.
The technical level we have arrived at on NZDUSD (labelled) warrants reasonable technical bias for entry.
Risk remains due to sentiment factors and is somewhat reflected in the most recent price action momentum.
If we do drift lower, Price Action (long) levels may be preferred for entry at relatively recent lows.
Note
Exit for first set of gains.
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Posts Not financial advice.
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