From a weekly perspective, NZDUSD has been consolidating between .67 and .69 starting in late 2018. A closer look on the daily chart details a symmetrical triangle whose apex is seeing price break down and now backtest the lower line of the triangle. The next move is lower with the first target at .67.
1. Price now below the LSMA
2. TSI turned bearish (needs a little more for confirmation)
3. Symmetrical Triangle (Daily Chart) broken to the downside
4. Candle this week is failing rally - let's see how it finishes on Friday
A little more bearish price movement and this will be a shortcoming soon.
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