Thursday , 19 October 2017

Home » RESOURCES » FOREX » NZD/USD intraday technical levels and trading recommendations for April 12, 2016

NZD/USD intraday technical levels and trading recommendations for April 12, 2016

analytics570cef2b9f49f.png

On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. A bullish breakout above 0.6550 was executed a few weeks ago.

Bullish persistence above 0.6550 (depicted recent support) was needed to keep the price moving towards higher bullish targets.

The price zone of 0.6750-0.6840 constituted a significant resistance zone where signs of a bearish rejection were seen during the previous few weeks (triple-top reversal pattern).

On February 9, the NZD/USD pair failed to consolidate below the depicted support level of 0.6550.

Moreover, an obvious bullish recovery was expressed around the depicted temporary support level. Hence, the recent bullish swing towards 0.6750 and 0.6860 was initiated.

In March, an obvious bullish breakout above 0.6750 and 0.6860 was executed. Hence, these price levels now constitute recent support levels.

Conservative traders were advised to have a valid BUY entry around the price level of 0.6750. S/L should be located below 0.6700.

Today, bullish persistence above 0.6850 is mandatory to ensure further bullish advancement towards 0.7070 and 0.7170 where a prominent consolidation range was previously established in June 2015.

The material has been provided by InstaForex Company – www.instaforex.com

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

NZD/USD intraday technical levels and trading recommendations for April 12, 2016 Reviewed by on . On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. A bullish breakout above 0.6550 was executed a few week On January 28, the depicted support at 0.6400 acted as a prominent key level offering a valid buy entry. A bullish breakout above 0.6550 was executed a few week Rating:
scroll to top