NZD/USD: upside won’t be easy

NZD/USD: upside won’t be easy

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

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This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

Latest news

EUR/CHF looks ill

This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.

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