NZDUSD - Intraday - We look to Sell at 0.6613 (stop at 0.6633)
Price action has formed an expanding wedge formation.
We look for losses to be extended today.
Trend line support is located at 0.6540.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 0.6620, which will confirm the bearish sentiment.
Our outlook is bearish.
Our profit targets will be 0.6559 and 0.6541
Resistance: 0.6770 / 0.6794 / 0.6800
Support: 0.6620 / 0.6600 / 0.6580
Price action has formed an expanding wedge formation.
We look for losses to be extended today.
Trend line support is located at 0.6540.
Further downside is expected, however, due to the strong support below we prefer to sell a break of 0.6620, which will confirm the bearish sentiment.
Our outlook is bearish.
Our profit targets will be 0.6559 and 0.6541
Resistance: 0.6770 / 0.6794 / 0.6800
Support: 0.6620 / 0.6600 / 0.6580
Trade closed: stop reached
Stop loss reached! -20 pips
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Related publications
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.