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Long-term review
Exchange Rates 07.04.2017 analysis


  • The NZD/USD pair continues to move downwards from the areas of 0.6988. The market is still moving around the spot of 0.6969.
  • Today, resistance is seen at the levels of 0.6988 and 0.7018. So, we expect the price to set below the strong resistance at the levels of 0.6988 or/and 0.7018; because the price is in a bearish channel now.
  • Amid the previous events, the price is still moving between the levels of 0.7018 and 0.6900.
  • We still prefer the bearish scenario as long as the price is below the level of 0.7018. In other words, sell orders are recommended below the spot of 0.7018.
  • Then, the pair is likely to begin a descending movement to 0.6939. The level of 0.6939 will act as strong support, and the double bottom is already set at 0.6939.
  • The market will continue further to the 0.6900 level.
  • On the other hand, the daily strong resistance is seen at 0.7018. If the NZD/USD pair is able to break out from the level of 0.7018, the market will rise further to 0.7067.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Mourad El Keddani,
Analytical expert
InstaForex Group © 2007-2020
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