NZD/USD could move DOWNHey tradomaniacs,
looking at the key-levels of NZD/USD it looks like we are finding a decent rejection.
If the weekly-candly closes below the resistance-zone and Trendline we could see at least another pullback down in order to see a healthy trend upwards.
Still concerning is the current fundamental situation which is in fact more than chaoctic.
The real economy does not look as good as the stock-market prices in and Jerome Powel recently clearly emphasized that the recovery of the economy would take longer than the market expects. (V-Shape).
Now this divergence between the real market and the stockmarket is more than alarming and we can expect to see another risk-off-sentiment as this is a typical "housewife" market every retailer wants to be invested in, which is obviously taking out liquidity for the big players to go long or even providing liquidity for the short-stacking algos. #FEDBUBBLE
A risk-off-sentiment would cause a drop of NZD aswell as AUD.
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
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