NZDUSD Trade Idea

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In yesterday's analysis, I expected NU to have strong momentum pushing towards the 0.7440 key resistance zone, which was exactly what the market performed. In today's trading session, I will remain neutral bias due to the current overbought condition of NU. Personally, I am expecting some rollover to test the 18ema or 50ema. Be cautious that I am focusing on short-term mean reversion setup due to the current over-stretched condition, avoid going against the flow if NU finds further bullish momentum towards the upside. Stay reactive.

The overall trend on the higher timeframe remains bullish.

Trade safe.

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