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- NZD/USD fell back from 0.6922 level and testing 0.6846 (23.6% Retracement Level).
- Short rally around 0.6920- 0.6940 should be taken as advantage for selling opportunities, As NZD dollar is weak against the dollar in the short term.
- The pair is currently is trading at 0.6853, it is expected decline futher towards 0.6800 and 0.6750.
- To the upside, the strong resistance sits near 0.7017 (38.2% retracement level), a break above this level would take it to upside to next resistance level at 0.7074.
Recommendation: Go short below 0.6900, targets 0.6840, 0.6770, SL 0.6980
Resistance Levels
R1: 0.6911
R2: 0.6933
R3: 0.6970
Support Levels
S1: 0.6846 (23.6% Retracement level 0.7736 to 0.6567)
S2: 0.6800
S3: 0.6743
