NZD/USD Long-Term Trend: Choppy
Key Resistance Levels: 0.7182, 0.7193, 0.7204
Key Support Levels: 0.7160, 0.7149, 0.7138
The NZD/USD pair is trading choppy between a narrow trading range of 0.7032 – 0.7157. The upward trendline supports bullish bias on the daily chart; however, the downward trendline extends bearish pressure around 0.7230 level.
NZD/USD Medium-Term Trend: Bearish
On the lower time frame, the pair trading below the resistance level that’s extended by a triple top pattern. We expect a breakout to the upside and a rally all the way up to 0.7260. Conversely, below this, the NZD/USD pair can slip until 0.7180 and 0.7153.
Sell Order @ 0.7205
TP 1 @ 0.7180
TP 2 @ 0.7150
Stop Loss @ 0.7220
Trade Safely 🙂