NZD/USD - Intraday Observation - UPDATE_1
Yesterday I closed may my analysis with the statement that:" on the other side watch the dotted line as it might/does form a wedge that should not be broken on a daily basis. Just in case it does so in the next few days we will see if the boundaries of the trading ranges will hold for support."
Well it happened faster than expected. Now, we will see if the lower band of the trading range will do its job and if so whether or not it can bounce back up and clear at least the middle line at 0.8266.
As long as the price stays in this range above the triangle formation - see long term view on weekly basis - the scenario is still valid and in progress.
There is no denial that a warning sign has been triggered.
Well it happened faster than expected. Now, we will see if the lower band of the trading range will do its job and if so whether or not it can bounce back up and clear at least the middle line at 0.8266.
As long as the price stays in this range above the triangle formation - see long term view on weekly basis - the scenario is still valid and in progress.
There is no denial that a warning sign has been triggered.