NZD/USD: Trading recommendations

Yuri Papshev Independent Analyst

Trading above the key support levels 0.6840, 0.7025, NZD/USD remains in the bull market zone. The breakdown of the important short-term resistance level 0.7054 indicated the end of the downward correction and became a signal for the resumption of long positions in NZD/USD.

After the breakdown of the resistance levels 0.7085, 0.7100, the growth target will be the resistance levels 0.7132, 0.7240, 0.7430, 0.7550, 0.7600.

In an alternative scenario and after the breakdown of the support level 0.7054, NZD / USD will resume its decline with the target at the support levels 0.7025, 0.7000.

Trading recommendations

Sell Stop 0.7040. Stop-Loss 0.7110. Take-Profit 0.7025, 0.7000, 0.6960, 0.6900, 0.6865, 0.6840.

Buy Stop 0.7110. Stop-Loss 0.7040. Take-Profit 0.7132, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600.

Author

Yuri Papshev

Independent Analyst

Independent trader and analyst at Forex market. Trade experience - more than 10 years. In trade Yuri Papshev uses a combination of fundamental and technical analysis.

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