Today’s Forex Guide

NZD/USD: Rebounding from resistance level of 0.7680


Apr.20.2015

8:30 am (EST) Update

NZD/USD 4 Hour
NZD/USD 4 Hour: Rebounding from resistance level of 0.7680

Suggested positioning: Short positions below 0.7680 with targets set at 0.7650 and 0.76 in extension.

Technical reasons why: The pair The pair formed a spinning top candlestick pattern upon market open on Monday during the Asian session, followed by a bearish sentiment moving the pair towards the middle Bollinger Band.

Alternative Scenario: Above 0.7750 look for more up moves towards 0.7850

Suggested stops and limits:

Support Levels Turning Point Resistance Levels
0.7650 0.77 0.7850
0.76 0.7750

 

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