NZDSEK: Crossroads. Higher High or Consolidation?
The pair successfully made a Higher Low within the 4H Channel Up (RSI = 57.295, MACD = 0.008, Highs/Lows = 0.0000) and at the moment is bouncing back up. Our estimate for the next Higher High is 6.2020 but we'll use a more moderate TP = 6.1800. However this time it will be face heavy Resistance at 6.1250 which is the Resistance of the 6.0495 - 6.1250 High Volatility zone on 4H, which can develop into a Consolidation Zone. Therefore manage the risk accordingly.
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