NZD/USD 4-hour: Broke above the key resistance level.
Invest Diva positioning: Long positions above 0.7617 with targets at 0.7721 and 0.7889 in extension.
Technical reasons why: The pair broke above the key resistance level at the 61% Fibonacci level at 0.7617 above the Ichimoku’s cloud. The RSI is near the over-bought zone.
Alternative Scenario: Below 0.7617 look for further downside with 0.7533 and 0.7450.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 0.7533 | 0.7617 | 0.7889 |
| 0.7450 | 0.7721 |
USD/CAD 4-hour: Broke below the Ichimoku’s cloud.
Invest Diva positioning: Short positions below 1.2524 with targets at 1.2390 and 1.2237 in extension.
Technical reasons why: The pair broke below the Ichimoku’s cloud and is teasing our pivot level at 1.2524. A break below this level would signal a further down-moves. The RSI is below the neutrality area.
Alternative Scenario: Above 1.2524 look for further upside with 1.2659 and 1.2747.
Where I’m setting my stops and limits:
| Support Levels | Turning Point | Resistance Levels |
|---|---|---|
| 1.2390 | 1.2524 | 1.2747 |
| 1.2337 | 1.2659 |
#1 Best Selling Author. Helping you accelerate your retirement with Triple Compounding™ Former engineer on a mission to help 1 million households take control of their finances. Founder & CEO of Invest Diva.
