Watch the video for a summary of this week’s news releases, a review of the USD index, and a complete top down analysis of the NZDUSD.
NZDUSD Rallies Back To 0.6489 Weekly Resistance from ACY Securities Australia on Vimeo.
NZDUSD Monthly:
Monthly support at 0.6204, resistance at 0.6527. Monthly chart is in a downtrend showing lower tops and bottoms. Price has tested the 0.6204 monthly support level.
NZDUSD Weekly:
Weekly support at 0.6206, resistance at 0.6489 and 0.6512.
Weekly chart is in a downtrend. Price is rallying back to the 0.6489 – 0.6512 weekly resistance area.
NZDUSD Daily:
Daily support at 0.6206, resistance at 0.6568.
Daily chart is in a downtrend showing lower tops and bottoms. Looking to sell a reversal at the 0.6489 – 0.6512 weekly resistance area after the release of the RBNZ interest rate decision on Wednesday.
Target 0.6204 monthly support. Watch the video for a full break down of my analysis on how you could trade this pair to the downside based on the 4 hour chart.
This content may have been written by a third party. ACY makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by any third-party. This content is information only, and does not constitute financial, investment or other advice on which you can rely.
This article was written by Duncan Cooper – Senior Market Strategist & Trading Mentor.
