NZDUSD Struggling to break 0.61
Updated
Hello Traders,
today the
NZDUSD pair in struggling to break the 0.61 level and re-enter in the local channel (highlighted by yellow trendlines).
Today operativity will be to monitor 2 things :
1. A break of 0.61 that wil give the possibility to re-enter the channel and target the 0.62 levels probably the coming week
2. If prices stay below the 0.61 level the sentiment could turn bearish targeting the 0.598 level that represent the bottom of the mail descending channel.
I'm expecting big volatility due to NFP and Uneployment Rate at 14.30 UTC+2
Levels to watch and trade:
- 0.6125 200 MA on 30M chart that represent the resistance
- 0.6065 we have the support
So, a break and close above 0.6125 will be considered as a bullish sign targeting 0.62+ levels and a break below 0.6065 a bearish one targeting 0.6020 and further.
In my opinion the best thing to do is to trade according to the mentioned levels and avoid trade the news because you might break your account.
today the
NZDUSD pair in struggling to break the 0.61 level and re-enter in the local channel (highlighted by yellow trendlines).Today operativity will be to monitor 2 things :
1. A break of 0.61 that wil give the possibility to re-enter the channel and target the 0.62 levels probably the coming week
2. If prices stay below the 0.61 level the sentiment could turn bearish targeting the 0.598 level that represent the bottom of the mail descending channel.
I'm expecting big volatility due to NFP and Uneployment Rate at 14.30 UTC+2
Levels to watch and trade:
- 0.6125 200 MA on 30M chart that represent the resistance
- 0.6065 we have the support
So, a break and close above 0.6125 will be considered as a bullish sign targeting 0.62+ levels and a break below 0.6065 a bearish one targeting 0.6020 and further.
In my opinion the best thing to do is to trade according to the mentioned levels and avoid trade the news because you might break your account.
Note
4H Chart suggests another touch of 0.605 support area.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.