Today’s Forex Guide

NZD/USD Back Above Ichimoku


May.14.2015

11:45 AM (EST) Update

NZD/USD Daily
NZD/USD Daily: Bounced back above Pivot level and Ichimoku cloud. Upside Prevails

Trading Idea: Above second pivot level of 0.76 look for further upsides towards 0.77

Technical reasons why: After reaching our bearish target of 0.7350, the New Zealand dollar - US dollar pair was supported by a rising flag and bounced back up. Confirmed above the Ichimoku cloud and our first turning point of 0.76 at 23% Fibonacci, we could see further upside towards 0.77

Suggested stops and limits:

Support Levels Turning Point Resistance Levels
0.7300 0.7460 0.7700
0.7238 0.7600 0.7831

 

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