Trader reveals why NZD/USD at 0.6045 signals 'sell now' despite recent gains
Key Points
- NZD/USD is currently at 0.6045, with traders anxious as it f...
The Kiwi dollar is currently sitting pretty at 0.6045 against the greenback, but seasoned traders are eyeing the exit door faster than tourists leaving Auckland when they see the hotel prices. While the NZD/USD pair has been hanging around the 0.6050-0.6080 range this week like a polite dinner guest, the technical charts are whispering some less-than-flattering predictions.
When Wedges Go Wrong
Here's where things get spicy: the pair has been trapped in what analysts call a "rising wedge pattern" since late April. Think of it like a funnel that's been squeezing the price action tighter a...
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