NZD/USD turned down

NZD/USD turned down

Trade ideas

SELL 0.6730; TP 0.6650; SL 0.6750

Last week NZD/USD made a significant thrust to the downside. The pair went below the 200-day MA that is now providing resistance in the 1.6730 area. The weekly pivot point is located at 1.6710 and the picture will remain bearish as long as NZD/USD is trading below this level. It looks like the pair is finally breaking the previous range between 0.67 and 0.6950 to the downside. That’s why we favor sell trades.

NZDUSD 22.png

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