Direct from the desk of Dane Williams.
Back at the desk on Monday morning and ready to crush another week.
I wanted to just once again highlight the fact that NZD/USD is at resistance and that the pair is well and truly in play this week.
Take a look at the Kiwi daily chart below.
NZD/USD Daily:
While there's not much change from two weeks ago when we last spoke about the pair, price is certainly still respecting the resistance zone.
Resistance is resistance until it's not and therefore right now we're looking for an overall rejection lower to sell.
As always, if higher time frame resistance holds, then we'd look to zoom into an intraday chart and sell short term rallies into previous support turned resistance.
This keeps us trading in the same direction as the big money and allows us clear risk parameters to manage our day trading risk around.
Patience, team. Patience.
Best of probabilities to you,
Dane.
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