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Add as a preferred source on Google FxWirePro: NZD/USD hovers around 20-day MA, bias lower NZD/USD rejected at major trendline resistance on Friday's trade. The pair currently hovers around 20-day MA at 0.7225. Intraday bias lower, Stochs show a bearish rollover from overbought levels. Close below 20-DMA could…
By FxWirePro Team Aug 29, 2016, 7:18 AM UTC
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NZD/USD rejected at major trendline resistance on Friday's trade.
The pair currently hovers around 20-day MA at 0.7225.
Intraday bias lower, Stochs show a bearish rollover from overbought levels.
Close below 20-DMA could see test of 50-DMA at 0.7169.
On the flipside, if the pair holds above 20-DMA, we see scope for upside upto 0.73 levels.
Recommendation: Good to go short on close below 20-DMA at 0.7225, SL: 0.73, TP: 0.7169/ 0.7110/ 0.7087
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