Hello Price Action Traders.
The NZD/USD keeps falling from the 0.8835/40 level (high of 2011) trading under its 21 EMA. On Friday the Kiwi bounced on the 0.86500 area and retraced. Yesterday the pair formed a daily Pin Bar rejecting the 38.2 Fibonacci level. Overall, the short term outlook is bearish, so a breakdown of the pin’s low might be a clue for a sell. Keep in mind, however, that there will be the Interest Rate Decision on Wednesday July 23 for the New Zealand Dollar.
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