Kiwi Support Shelf Break Could be Significant

935
NZDUSD is testing March 2011 levels (.7108).

Sentiment positioning shows +3.88 as nearly 4x as many traders are already long the pair vs shorts. When used as a contrarian signal, that means we have a future supply of sellers who would need to close their long position should this move materially lower.

This appears to have room to run as well should a breakdown materialize. Next level of significant support is down near .65 which corresponds to June 2010 lows. Wave relationships show up in the .61-.64 zone as well.

Trade well!

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.