NZDUSD Analysis – Price Seeks More Consolidation Around 0.66970 as Buyers Plan a Charge Up
NZDUSD price seeks more consolidation around the 0.66970 significant level as buyers plan to charge the price level to 0.68790 significant levels. The price natural tendency for NZDUSD is to continue in its accumulation phase between the levels of 0.68790 and 0.66970 as the bulls also prepare to assist the price tendency despite being in consolidation.
NZDUSD Significant Levels:
Resistance Levels: 0.72080, 0.70890 Support Levels: 0.6879, 0.69770
NZDUSD Long Term Trend: Bullish
From mid-August, the market is assumed to witness a quick consolidation phase between the levels of 0.70890 and 0.68790. However, actions caused by the bulls and bears eventually allowed price activity to break through the 0.70890 significant level. This level has become the greatest.
From the 0.70280 price zone, the bear’s conduction came with a market drawdown as the sellers engaged in a price quest. Price breaks down into several zones till the bears become saturated. The market is presently in the accumulation phase due to the price first undergoing bearish distribution before breaking through 0.70280. In the accumulation region, the buyers are planning to attain the edge of a bull in the consolidation as the proceeds in the range continue.
NZDUSD Short Term Trend: Ranging
Market ups and downs are caught clear in the ranging market. The sellers play a downplay, while the bull is also kicking price affluence in the NZDUZD. The buyers plan to examine price movement from the 0.67790 price level as the moment in price action settles. As the market prepares to rise above the bear, the sellers will also look for positions to hold in the market.
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