NZDUSD trading in a Bearish Channel/ Sell continuation.

2020-01-12 12:59:09

In the hourly chart, note that NZDUSD is moving in a bearish channel.
In addition to this, price has also been rejected by the 100H EMA.
Therefore, there is a good chance that NZDUSD will continue the downside.
We can look for Sell at (0.6635-0.6645). Traders can take profit(TP) at 0.66 or 0.6680 which happens to be the bottom of the channel.
This is a low-risk set-up and SLs can be placed at 0.6665.