Technical outlook and chart setups:
The NZD/USD pair is seen to be breaking higher out of diamond consolidation pattern after almost 20 trading sessions as seen here. The pair is trading around the 0.6400 levels for now and is ready to push through the 0.6500 levels easily. Please note that a confirmed bullish break now would have potential to make the trend bullish from here on. It is hence recommended to remain bullish for now with risk at the 0.6200 levels. Immediate support is seen at the 0.6200 levels and lower, while resistance is seen at the 0.6550 levels followed by 0.6700 and higher respectively.
Trading recommendations:
Remain long for now, stop is at 0.6200, target is open.
Good luck!
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Technical analysis of NZD/USD for September 30, 2015 . Thanks for your support.
No comments:
Post a Comment