Technicals

Add as a preferred source on Google

FxWirePro: NZD/USD trade idea - long dips, target 0.7365

NZD/USD breaks above 110-EMA on hourly charts, after taking 50-DMA support on Monday's trade. Renewed risk-on sentiment supporting the Kiwi as also upbeat Chinese industrial profits data. CB Consumer Confidence index fro…

1 min read
FxWirePro: NZD/USD trade idea - long dips, target 0.7365
Image from the original EconoTimes article

Read the original article

  • NZD/USD breaks above 110-EMA on hourly charts, after taking 50-DMA support on Monday's trade.
     
  • Renewed risk-on sentiment supporting the Kiwi as also upbeat Chinese industrial profits data.
     
  • CB Consumer Confidence index from the US, later during NA trading session in focus for clues on further direction.
     
  • Major support levels - 0.7231 (50-DMA), 0.7220 (Sept 26 low), 0.72, 0.7197 (cloud top)  
     
  • Major resistance levels - 0.7311 (20-DMA), 0.7369 (Sept 22 high), 0.7380 (Aug 26 high)
    ​

Recommendation: Good to long dips around 0.73, SL: 0.7270, TP: 0.7365/ 0.7380
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560