NZDUSD

In previous market sessions we saw the NZDUSD price action soar bullishly . We watched the pair break levels and now trades at the 2020 higher high. The previous link could be used as reference. https://fxsits.com/will-the-nzdusd-soar-bullish/ . In todays post we see different as price actually trades below t level 0.71091

NZDUSD DAILY CHART 9 December 2020
NZDUSD DAILY CHART 9 December 2020

Looking at the H4 time frame. You’ll see how price found support at level 0.70070 which is our new support level. We see how Price trades within resistance level 0.71091 and support 0.70070 . We believe we could see price follow its bullish long term trend . However if price breaks the support level and moves bearish. Then level 0.67930 will be exposed.

If the NZDUSD price action continues its trend and creates new higher highs by the end of the trading session . Then we could see a new level of the pair forming . This as price soars to its newer higher highs. Our analysts believe that traders should keep a watch out for a long term bullish trend of the pair in the upcoming weeks .

NZDUSD H4 CHART 9 December 2020
NZDUSD H4 CHART 9 December 2020

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets

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