NZD/USD Points Lower Despite Today’s Gains

Verified Person
· View 321


NZD/USD Points Lower Despite Today’s Gains

ByLCMS Traders FX Analysis Team

 JUN 16, 2021

NZD/USD 0.23% higher to 0.7137 after making a low of 0.7104 yesterday. The pair’s immediate support levels are at 0.7180 and 0.71000. The intraday resistance levels are at 0.7158 and 0.7177.

On the intraday charts, a bearish moving average crossover is present that might help bears move below 0.71000. The RSI is at 44 and the MACD is below the zero line and favors the bears. The pair is also below the mid-Bollinger band which is at 0.71995. The upper and lower bands are at 0.7300 and 0.7083 respectively. Following the intraday price patterns, today’s slight uptick can well be taken for a sell entry. A decent selling entry is recommended at the following levels

Direction: Sell

Entry: 0.7155

Take Profit Range: 0.7110 – 0.7085

Stop-Loss: 0.7180

A breach below 0.7100 would open the doors for further decline towards 0.7030 and 0.7000 during this week. On the upside, bears now require a sustained price action above 0.7170 to get back into the game.


NZD/USD Points Lower Despite Today’s Gains

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

If you like, reward to support.


No older comments, be the first to grab the sofa.