FX.co ★ NZD/USD Trading Recommendations 18th June 2016

NZD/USD has reintegrated back into our channel, and we're seeing a strong drop from here to the 0.6720 level. We can see that the stochastic has reacted off the 92% resistance and has also developed a bearish divergence, which adds stronger conviction of our drop from here. Our stop loss is at 0.7400, which is fractal resistance.

Trading Recommendations:

Sell now

Stop loss at 0.7400

Take profit at 0.6960 before 0.6720