Dollar Bearish thesis and structure still remains. NZD also has an encouraging economy growth as compared to the other Developed Market economies for now. RBNZ also one of the more hawkish central banks currently.
Chart structure also presents a clear rejection of the Daily Box. Described in the chart above.
Good breakout above Daily Box with healthy Volume. Weaker Volume displayed around the Box Region together with higher Candle Closes.
Target for trade setup is the initial Weekly Supply Area, around the 0.7250 level.
Chart structure also presents a clear rejection of the Daily Box. Described in the chart above.
Good breakout above Daily Box with healthy Volume. Weaker Volume displayed around the Box Region together with higher Candle Closes.
Target for trade setup is the initial Weekly Supply Area, around the 0.7250 level.