NZD/USD Intraday technical levels and trading suggestions for July 13, 2018 888011000 110888 The NZD/USD pair had actually been caught between the rate levels of 0.7170 and 0.7350 until the bearish breakdown of 0.7200 occurred on April 23.Breakdown of 0.7220-0.7170(neck line zone)was needed to confirm the illustrated turnaround pattern. Bearish target levels around 0.7050 and 0.7000 have been achieved already.The price level of 0.7050 was thought about a key-level for the NZD/USD bears That’s why bearish determination below 0.7050 enabled even more bearish decrease to happen to the rate levels around 0.6800. As anticipated, the current bullish pullback to the cost level of 0.7050(Damaged Demand-Level)used a great chance for a legitimate SELL entry.The fast bearish decrease occurred towards 0.6800 where a false bearish breakdown happened. This allowed short-term bearish movement to happen to 0.6680. The set stopped working to maintain adequate bearish momentum.On July 7, recent bullish rejection pressed the NZD/USD set above 0.6820 once again. This was followed by another bearish breakout below 0.6750 which happened earlier on Wednesday.Trade Recommendations: Currently, the price zone 0.6750-0.6800 constitutes a need zone to be protected by the NZD/USD bulls. Possible bullish targets would lie around 0.6900-0.6980.Please beware if the present bearish decline extends listed below 0.6680 as this invalidates the previous bullish scenario.The product has actually been provided by InstaForex Business

By | July 13, 2018

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