Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
Short-term trades for NZD/USD
NZD/USD is testing support of the short-term range between 0.6790 and 0.6760. The pair is likely to move down by 20 pips to 0.6737 (50-day MA).
Yesterday, the price was supported at this point so it may provoke a rebound back to 0.6790 or 0.6820. The bigger picture is negative for the NZD as long as the pair is below 0.6820.
SELL 0.6760; TP 0.6737; SL 0.6770
BUY at 0.6790; TP 0.6820; SL 0.6780
SELL at 0.6730; TP1 0.67; TP2 0.6670; SL 0.6745
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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