Overview:
- The The key level is seen at 0.6751. Therefore, this level is going to act as the strong resistance on July 14, 2015. As it is known, history will probably repeat itself at this level. According to the previous events, the NZD/USD pair is still moving between 0.6619 and 0.6751. Also, is should be noted that the double bottom and the strong resistance are seen at 0.6619 and 0.6751 respectively. Sell at 0.6751 with the first target at 0.6655 in order to test the daily pivot poin, then it will continue towards 0.6619. On the other hand, if the trend fails to close below, the double bottom will be formed at the level of 0.6619. Consequently, buy above 0.6619 with a target at 0.6700. The level of 0.6721 is representing the weekly resistance 1.
Note:
- The trend of NZD/USD pair has formed a strong bearish channel in the H4 chart.
Warning:
- It has to review the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
