NZDUSD Trade Idea

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In yesterday's analysis, I discussed about the selling opportunities on NU, while other major pairs such as GU, EU, & AU were dropping NU buyers' remained in control. In today's trading session, I will be favouring short-term selling opportunities on NU due to the multiple rejections at 0.7218 & 0.7238 resistance zones (previous right shoulder). If market again rejects off the 0.7218 resistance zone, we could expect NU to again re-visit the 0.7110 support zone. However, do not forget the overall trend on the higher timeframe remains bullish, I'm only trying to capitalize on the current short-term bearish sentiment in the market. If it shows bullish momentum breaking above the 0.7238 resistance zone, that would invalidate any short setups.

Trade safe.

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