The NZD/USD
range has been continuing for months now and so far there is no indication it
is about to end. The pair reached the resistance at 0.6820 and formed a hanging
man candlestick on the weekly time frame, that was a signal that it would
bounce off that level, which it did. Currently the pair is testing the support
at 0.6700 and it will most likely break below it. I expect a further move to
the downside, first to the support at 0.6630, and if there is a breakout below
that support, then it will likely continue falling towards 0.6500. I have
opened a short position and for now I intend to keep it open.
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