NZDUSD Analysis
Updated
NZDUSD pair is looking to be stuck within a range over the next few weeks. With the RBNZ cutting their interest rates, the recent rally with the New Zealand Dollar should be met with some resistance around the 1.27 extension (.6870s) with the red highlight bar. This pair could be retracing and would finally move to the downside.
Sell the rallies around .6870s with stops just above .6910
Target price .6450s
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Sell the rallies around .6870s with stops just above .6910
Target price .6450s
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Note
NZDUSD sliding to the downsideNote
Target Profit Reached at .6450
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.