empty
 
 
14.08.2020 11:46 AM
NZD/USD Imminent Breakdown!

NZD/USD drops again after a temporary rebound and it could reach fresh new lows soon if the US data comes in line with expectations or better. Technically, the pair has escaped from a major up channel, so it is somehow expected to drop further in the short term.

A USDX's rally after the US data release will boost the USD which will appreciate versus all its rivals and not only against the Kiwi.

This image is no longer relevant

As you can see, NZD/USD has found temporary support on the median line (ML) of the black descending pitchfork, it has come back to retest the broken uptrend line, up channel's support, and the Pivot Point (0.6594) level.

Now, it's almost to reach the median line (ML) again, a valid breakdown will suggest a further drop towards the S1 (0.6471) level and towards the 0.6393 level.

  • NZD/USD Trading Tips

Sell NZD/USD if the price closes below the median line (ML) and below the 0.6524 former low. The S1 (0.6471) could be used as the first downside target, while the next downside targets are at 0.6393 level, at the lower median line (LML), and lower at the S2 (0.6318) level.

Summary
Urgency
Analytic
Ralph Shedler
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $10000 más!
    ¡En Enero, sorteamos $10000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback