NZD/USD Intraday technical levels and trading suggestions for September 15, 2017 888011000 110888 Daily Outlook In February 2017, the depicted short-term drop was initiated around the portrayed supply zone (0.7310-0.7380). A recent bullish breakout above the downtrend line took place on May 22. Given thatthen, the market has been bullish as illustrated on the chart.The cost zone of 0.7150-0.7230(Key-Zone)stood as a short-lived resistance zone untila bullish breakout was revealed above 0.7230. This resulted in a quick bullish advance to the next supply zone around 0.7310-0.7380 which was momentarily breached to the upside.Recent bearish pullback was performed to the rate zone of 0.7310-0.7380(newly-established demand-zone) which cannot use sufficient bullish support for the NZD/USD pair.Re-consolidation below the price level of 0.7300 improves the bearish side of the market. This brings the NZD/USDset again towards 0.7230-0.7150 (Key-Zone) where recent weak bullish recovery was manifested previously in September.An atypical Head and Shoulders pattern is being expressed on the illustrated chart suggesting high probability of bearish reversal. If adequate bearish rejection is expressed.Breakdown of the neck line 0.7150 verifies the turnaround pattern, the current rate levels of 0.7320-0.7350 can be seen for a legitimate SELL entry. Anticipated bearish targets are located around 0.7050, 0.6925 and ultimately 0.6800. The material has actually been offered by InstaForex

By | September 15, 2017

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