FX.co ★ NZD/USD Trading Recommendations 19th July 2016

Our first profit target from yesterday has almost been reached. We now expect an intermediate bounce correction above 0.7000 (big figure + fibonacci support) before a further push down to 0.6830. Our stop loss is the graphical overlap resistance at 0.7230.

We can see how the RSI (34) has broken below its support-turned-resistance line which triggers our bearish move down from here.

Trading recommendations:

Sell at 0.7100

Stop loss at 0.7230

Take profit at 0.6830