NZDUSD: Having the pair halted its weakness and continued to hold above its Thursday low at the 0.6691 level, there is risk of a follow through higher. Support lies at the 0.6700 level where a break will aim at the 0.6650 level. Further down, the 0.6600 level comes in as the next downside target. Conversely, resistance resides at the 0.6800 level where a break will aim at the 0.6850 level. A break of here will have to occur to create scope for a run at the 0.6900 level. Further out, resistance stands at the 0.6950 level. All in all, NZDUSD faces further upside threats on recovery.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.