As previously discussed, the NZDUSD currency pair found a support near the level of 0.7200, where it turned and formed a pulse candle up to the subsequent level of 0.7340. Now we see how the price entered the level of 0.7340, but the "bullish" potential was inactive, which resulted in a change in trading forces. It is likely that the "bears" will try to return to the market, forming a full-fledged correctional movement. As the forecast coincides, it is likely to expect a move to the values of 0.7260 / 0.7230.
Key Levels
Resistance zones: 0.7340; 0.7550; 0.7700
Support zones: 0.7200 (+/- 20p); 0.7050
Signals
- We recommend buying the pair after a clear price fixation above 0.7340, with the prospect to move towards 0.7400 / 0.7500.
- Selling the pair is recommended made at a price below 0.7300, with the prospect to move towards 0.7260 / 0.7230.
Draw your attention: Predictions are not a direct guide to action!