Good afternoon traders,
Just a quick post today to highlight the price action in NZD/USD. The Kiwi is a pair we’ve been following from a while now and one that has had a HUGE momentum move:
As you can see, even during a large momentum drop like what you see in the above chart, technical levels are always at least respected.
Respected doesn’t necessarily mean held, but you can see the effect that they have on halting momentum at least at the first touch here.
Best of probabilities to you!
Dane Williams – Vantage FX
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Source: Vantage FX Blog