NZDUSD 15min Scalp: Playing in the Range
NZDUSD is trapped in a 15min range at the time of this writing as shown on the chart. Scalpers may attempt to short and long NZDUSD off the resistance / support levels until one of the key levels gives way.
Although scalping may be used our preference is to wait for a 15min close below the support (lower line), which may pave the way for stronger weakness in the currency pair. A break above the resistance may also lead to some gains, however. a bearish breakout may trigger a firmer price movement.
Although it is not directly related to NZDUSD, Australia's GDP (due later in Asia) may trigger some volatility in NZD pairs and crosses.
Although scalping may be used our preference is to wait for a 15min close below the support (lower line), which may pave the way for stronger weakness in the currency pair. A break above the resistance may also lead to some gains, however. a bearish breakout may trigger a firmer price movement.
Although it is not directly related to NZDUSD, Australia's GDP (due later in Asia) may trigger some volatility in NZD pairs and crosses.
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