NZDUSD

Last week we sent out a signal concerning the NZDUSD. If you were subscribed to our smart plan then chances are your trade has hit TP. The question we ask now is simple. Will the NZDUSD continue bullish or price find resistance at Level 0.65807.

NZDUSD
NZDUSD Daily chart 7 July 2020

In the chart above you will notice that price first resisted at Level 0.65807 on the 6th June before retracing bearish to Level 0.64015. Our analysts believe that this could be our new range bound area. As price makes 3 confirmed touches at Level 0.65807. The activity at Level 0.64015 gives us signal that this is our bullish support level. There are possibilities that price could trade to this level.

NZDUSD
NZDUSD H4 chart 7 July 2020

If price manages to close below Level 0.64015 . We could see the NZDUSD plummet bearish. However,a close above Level 0.65807 could signal a bullish move. A bearish engulfing candle could be a strong indicator if price fails to break Level 0.65807 . We can only know where price is headed by day end. For more information on entries and exits subcribe to our smart plan.

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read risk warning before deciding to trade the markets.

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