NZDUSD Daily Sell Setup – 12th Jan 2017

Technical Analysis

NZDUSD Daily

NZDUSD is in a bearish channel and price is currently approaching (bear sell zone) at MM3 and 61.8% Fib level. I'd drop into smaller TF and look for signs of reversal to go short on this pair

NZDUSD 4hr

On the 4hr, price is rising short term in a bullsih channel. However, it is worth pointing out that there's divergence in formation, a strong indication that bulls are loosing their momentum. I'd look for reversal patterns on the 15min charts to go short on this pair with target at MM1.

NZDUSD 15min

On the 15min, price had been rejected twice at MM3 level. I'd wait for price to break below the support and a retest to go short

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