Overview:
- The price of NZD/USD is still between the levels of 0.6684 and 0.6482, so it is recommended to be careful while making deals in this area. It should be noted that the key level is set at the level of 0.6600 (resistance). Equally important, the double top will be formed at the 0.6684 level. As it is know, history will probably repeat itself at this level again. Therefore, it will be a good sign to sell below 0.6684 or 0.6600 with the first target of 0.6490. It will call for a downtrend in order to continue its bearish movement towards 0.6423 because the downward trend is still strong for that the pair will probably go down. On the other hand, the stop loss should never exceed your maximum exposure amounts, so the stop loss should be placed above 0.6684 at the price of 0.6712.
Intraday technical levels:
Date:25/08/2015
Pair:NZD/USD
- R3: 0.6877
- R2: 0.6781
- R1: 0.6625
- PP: 0.6529
- S1: 0.6373
- S2: 0.6277
- S3: 0.6121
