Overview:
- According to the previous events, the NZD/USD pair has still been moving between 0.6440 and 0.6497. Today, strong resistance will be formed at the level of 0.6537, providing a clear signal for sell deals with the target seen at 0.6466 and 0.6406 in order to test the double bottom on the H1 chart. Moreover, in the long term, a strong support level will be formed at the level of 0.6406, providing a clear signal for resell deals with the targets seen at the 0.6348 mark, with a view to test the double bottom in the same time frame. However, stop loss is to be placed above 0.6575.
Notes:
- We expect a range about 93 pips today.
- The risk of 62 pips must make a profit of 93 pips.
- The level of 0.6537 will confirm the bearish market.
- Volatility today is 95.50. As a rule, the market is highly volatile if the last day has huge volatility.
