0.685 support zone - Cup and Handle
NZDUSD was rejected by the Fast MA line last week and it is heading towards 0.685-0.69 (nearest weekly support zone).
Cup and Handle is being formed on the daily chart.
A breakdown of 0.685 can lead to a bearish move towards 0.67.
Bulls should focus on finding bullish reversal patterns between 0.685 and 0.69 - Pullback towards 0.7 is an option.
You can read more about this setup (including longer term analysis) and about more trading ideas in my weekly newsletter- #WeeklyMarketsAnalysis on Twittr
Cup and Handle is being formed on the daily chart.
A breakdown of 0.685 can lead to a bearish move towards 0.67.
Bulls should focus on finding bullish reversal patterns between 0.685 and 0.69 - Pullback towards 0.7 is an option.
You can read more about this setup (including longer term analysis) and about more trading ideas in my weekly newsletter- #WeeklyMarketsAnalysis on Twittr
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