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NZD/USD Remains Below the 0.7150 Mark – Points Lower

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NZD/USD Remains Below the 0.7150 Mark – Points Lower

ByLCMS Traders FX Analysis Team

 JUN 15, 2021

NZD/USD is keeping below the 0.7150 mark after ending the last week on the lower side. The intraday support levels are at 0.7133 and 0.7100. The near-term resistance areas are at 0.7168 and 0.7185.

On the intraday charts, the pair still appears vulnerable to the downside even though it’s keeping above last week’s low. The SMA-14 is indicating resistance at 0.7200 and the SMA-50 resistance line is at 0.7186. The RSI is at 45 and the MACD is below the zero line. The mid-Bollinger band is at 0.7202 while the upper and lower bands now seem to be expanding. Following the intraday price pattern and considering the nearby resistance zone, the pair is good to sell at the following levels

Direction: Sell

Entry: 0.7170

Take Profit Range: 0.7130 – 0.7110

Stop-Loss: 0.7195

An intraday closing below 0.7130 would be an indication of a breach below 0.71000 during the week. On the upside, an intraday closing above 0.71000 is needed for the bulls to regain control and move higher.

NZD/USD Remains Below the 0.7150 Mark – Points Lower

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