Todays analysis – NZDUSD- trading at a key location where an expansion is probable,
Points to consider, - Local S/R Support - Swing High Objective - 200 MA S/R - Oscillators Bullish Control - Declining Volume
NZDUSD’s immediate price action is impulsive, trading at local S/R that has technical confluence with the .382 Fibonacci.
The 200 MA S/R is current dynamic resistance that is has a high probability of being respected.
Immediate volume profile is trading with declining volume, an influx is highly probable when testing key trade locations.
Overall, in my opinion, NZDUSD is a valid long with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps
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