Strategy: Pending Short
NZDUSD put in a Shooting Star candle below resistance at 0.8374, a level that has acted as a significant barrier for price action since July. Negative RSI divergence reinforces the case for a downside scenario. However, the Shooting Star is a relatively weak signal by itself and needs confirmation before being considered actionable, so we will stand aside for now. Near-term support lines up at 0.8241.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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