NZD/USD Daily: Reached both bearish targets AGAIN
Trading Idea: Wait for confirmation of break below rising channel
Technical reasons why: The pair tested below 0.7460 for the third time since March 20th, which makes this level a very important support. The level falls in the middle of Ichimoku cloudso a break below it could bring further drops towards 0.73
Alternative Scenario: Above 0.76 look for further up moves back to 0.77 area
Suggested stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7300 | 0.7600 | 0.77700 |
| 0.7460 | 0.7675 | 0.7831 |
