FX.co ★ NZD/USD: trading recommendations for September 18, 2013

Trading recommendations:

NZD/USD:

According to the previous events, the price has still been trapped between 0.8200 and 0.8250.

• Long buying:
• Buy above 0.8160 with the first target at 0.8240, it might resume to 0.8290 (0.8296: 61.8 of Fibonacci retracement).
• Short selling:
• Outlook -1-: Swing trade at 0.8300 in order to sell with a traget of 0.8150.
• Outlook -2-: Below 0.8150 look for further descending movement with 0.8100 and 0.8058 as targets.

P.S. It should be noted that the market will turn to bearish sentiment from the level of 0.83 (psychological level).