NZD/USD Intraday technical levels and trading recommendations for June 14, 2018 888011000 110888 The rate zone of 0.7320-0.7390 stood as a considerable supply zone throughout current bullish pullback. The bulls failed to perform a successful Bullish breakoutabove 0.7400 during the previous week’s consolidations.The NZD/USD set had actually been trapped between the rate levels of 0.7170 and 0.7350 until bearish breakdown of 0.7200 occurred.Since April 13, substantial bearish pressure has been used.This most likely turns the short-term outlook for the NZD/USD set into bearish providing significant significance to the multiple-top reversal pattern.That’s why, bearish breakdown of 0.7220-0.7170( neck line zone)was had to confirmthe illustrated reversal pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.The bearish situation needs apparent bearish persistence below 0.7050 to keep significant bearish momentum towards 0.6860 and 0.6820. That’s why, the price levelof 0.7050 is presently considered a key-level for the NZD/USD bears.Any bullish breakout above the rate level of 0.7050 prevents more bearish decrease permitting bullish pullbackto happen towards 0.7170-0.7220. When bearish momentum continues, the price zone of 0.6820-0.6780 will be the next location for the NZD/USD pair. It needs to be watched for bullish rejection and a possible legitimate BUY entry.On the other hand, the existing bullish pullback towards the cost level of 0.7050 (Broken Demand-Level) stays a great chance for sellers to have a valid OFFER entry. S/L needs to be placed above 0.7100.The material has been supplied by InstaForex Company – www.instaforex.com

By | June 14, 2018

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