- NZD/USD has recovered after making a low of 0.7684. Overall trend is bearish as long as minor resistance 0.7815 holds.
- On the downside major support is around 0.7660 and any break of will take the pair to 0.7600/0.7503 (131.8% retracement of 0.78699 and 0.76075).
- The break of 0.7815 would extend gain to 0.7870/0.7925 in short term.
- Overall trend reversal level -0.7870.Recommendation: Sell NZD/USD around 0.775, SL 0.7815, Target 0.7503.
The material has been provided by InstaForex Company – www.instaforex.com