Today’s Forex Guide

Cha-Ching Again on NZD/USD Baby!


May.07.2015

4:45 am (EST) Update

NZD/USD Daily
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

 

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