NZD/USD pressures 0.7750 bids, inverted day pin bar

FXstreet.com (Barcelona) – NZD/USD is pressing against bids through 0.7750 in twilight Asia, with the rate showing signs of premature weakness as buyers struggle to keep the 0.78, which failed to be regained after a series of attempts through the US.

Inverted pin bar on the daily

From a daily perspective, an early attempt to recover above 0.78 in the last Asian session saw heavy USD buying in Europe, which persisted along US, printing an inverted pin bar which puts pressure to the downside.

Where to from here?

If selling sees follow through in Tokyo, the next formidable area of support is …read more