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NZDUSD: Keep an Eye on 0.6350
On October 17, I wrote about a potential NZDUSD bottom. I also included a video in that post where I pointed out a trend line from the 2000 and 2001 lows as well as a falling wedge that dates back to 2016. The idea was that the confluence of support around 0.6200 and subsequent bounce might indicate a short-term bottom for the pair. At the time, we were watching for a close above 0.6360 to expose 0.6430. We got that move the very next day. The NZDUSD closed above the channel top near 0.6360 and tagged the 0.6430 resistance area. Notice too that the pair carved a bearish pin bar on Tuesday. That candlestick pattern at ... (full story)