NZD/USD Forecast October 25, 2016, Technical Analysis

The New Zealand dollar initially tried to rally during the day on Monday May continue to fall as we have seen a little bit of bearish pressure as of late. I still have a significant uptrend line just below, so I’m not willing to sell just yet. It’s not until we break down below that uptrend line that I would consider it. In the meantime, I have to assume that the support is going to hold and therefore I look for supportive candles in order to buy. I’m not in a rush to trade this market I should state however.

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