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Sunday, May 16, 2021

NZDUSD Analysis May 16, 2021

NZDUSD Analysis May 16, 2021

On the weekly timeframe we can clearly see that price rejected the key level at 0.72900 before finding a lot of buying pressure at the support level . Heading into this week I am still bearish on this pair and will be looking for shorts as it comes to retest these highs again.

snapshot
On the daily timeframe we can see that price is clearly in a bullish trend . So technically if I was to be shorting from the high point around 0.72800 I would be trading against the trend on this timeframe. I still like how price rejected that level twice already. That establishes that we are now in a range.
snapshot


from TradingView Ideas https://ift.tt/3ydSoiP
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