Talking Points
- Strategy: Flat
- Doji Suggests Hesitation From Traders
- Awaiting Reversal Signal On H4
NZD/USD continues to tread water with a Doji pattern indicating hesitation from traders. Despite an absence of bearish signals the scope for further gains may be limited by sellers sitting nearby at the psychologically-significant 0.8000 handle.
NZD/USD: Doji Suggests Hesitation From Traders
Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
The four hour chart suggests the Kiwi is at a slightly more interesting position than the daily. Key resistance rests close-by at the psychologically-significant 0.7900 handle. Yet a void of key reversal patterns casts doubt on a potential pullback over the session ahead.
NZD/USD: Awaiting A Reversal Signal Near Intraday Resistance
Four Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
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