Good Morning Traders,
We wish you the best for the new week!
Here we are looking at NZD/USD on the 2 Hour timeframe as we watch for a potential long opportunity.
This market has recently showed a new higher low on the daily timeframe at the area of 0.67050. Price has since rallied and has broken through the 0.68500 monthly resistance.
We continue to watch the 2 Hour price action as price currently shows the potential of a retest rejection off the 0.68500 area which could open the opportunity for a long position.
If we see price action that validates a long position we will look to take price up to the 0.69000 resistance area.
Please remember that this is our perspective and you should trade alongside your own analysis.
All the best.
James at Technical FX37