NZDUSD: Looking for short, both for the short term and long term

15 בנוב׳ 2020

NZDUSD has reached a highest price for this year last week, thus tested a significant resistance level since earlier month of last year. Based on the 4H time frame, a Head and Shoulders pattern had occurred suggesting that the price might retrace, eying for the 200 day moving average. If the price manage to close below the 200 day moving average, the bullish momentum might end and we might be looking for short in the long term.