NZD/USD Intraday technical levels and trading recommendations for August 10, 2017 888011000 110888 Daily Outlook The NZD/USD set has been trending up within the depicted bullish channel because January 2016. In November 2016, early signs of bullish weak point wererevealed on the chart when the pair cannot tape a new high above 0.7400. A bearish breakout of the lower limitation of thechannel happened in December 2016. In February 2017, the illustrated short-term downtrend was started in the portrayed supply zone(0.7310-0.7380).A current bullish breakout above the sag line took place on May 22. Since then, the marketplace has actually been bullish as depicted on thechart.The rate zone of 0.7150-0.7230 (Key-Zone)stood as a temporary resistance zone till a bullish breakout was expressed above 0.7230. This resulted in a quick bullish advance towards the next supply zone around 0.7310-0.7380 which is momentarily breached to the upside.A Recent bearish pullback is being carried out to the rate zone of 0.7310-0.7380(newly-established demand-zone)which cannot stop briefly the continuous bearish momentum.Re-consolidation listed below the price level of 0.7300 brings the EUR/USD set again towards 0.7230-0.7150( Key-Zone)where rate action should be watched for more decisions.The product has been offered by InstaForex Company-www.instaforex.com

By | August 10, 2017

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