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NZDUSD – Testing LT Key Support (Weekly chart)
After an initial bounce from the key support zone (0.6780 – 0.6870) in the middle of May, price is now re-testing the LT support zone a second time.
My LT bias for this pair is neutral which means I’m looking to trade both sides of the market. Thus traders IMO can look to buy the bottom and sell the top of this LT range as long as it holds IMO, targeting the opposite side.
The current price action context can offer bulls such a potential trading opportunity.
A failure of this LT support would open up for technical selling …... Keep reading