- In the H1 chart, the NZD/USD pair has
still call for the strong bearish market between the levels of 0.7056 and
0.7013. Additionally, it should be noted that the minor support is going to set
at the level of 0.6921. Moreover, the level of 0.6962 represents the daily
pivot point on June 18, 2015. Equally important, the resistance will be set at 0.7056
and the double top is set at the same price too. Therefore, sell 0.7056 with
the first target at 0.8525 in order to test the daily pivot point (0.6962);
then it will be gone towards 0.6921 (the daily support 1). If the market is
able to break the minor support at the level of 0.6921; hence it will call for
the bearish market below 0.6921 again in order to test the double bottom at
0.6879. At the same time, if the trend fails to close below the double bottom,
above 0.6879 with a target at 0.7050 this week.
- Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
The material has been provided by InstaForex Company – www.instaforex.com