Trade77; Kiwi Technical Update 7am

Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.

Kiwi greatly bounced off the H4 trendline I mentioned before and now is moving heavily to the north to reach 0.7800 area.

20sma has held the price nicely and the best way to go short would be waiting for a close below that moving average. But price is likely to reach higher at the upper bond trendline in the chart above and forming a possible double top there. So watch it carefully from here to 0.7790 level for a confirmation to go short.
Break above the upper bond trendline will force the price to reach 0.7950 again.

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Kindest Regards

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