NZD/USD: upside won’t be easy

Read the article on FBS website

Trade idea

SELL 0.6650; TP 0.6600; SL 0.6665

NZD/USD has been trading in a very volatile fashion recently. The latest development has been that the pair met resistance in the vicinity of 0.67. The pair failed to fix above the declining 100-day MA that had gone below the 200-day MA in June. There’s also resistance in the form of the 50% Fibo retracement of the March-May decline. Only an advance above 0.6710 will allow bulls to fight back. 

NZDUSD 12 07.png

FBS Analyst Team

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.