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FX.co ★ NZD/USD profit target reached. Remain bearish.

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Forex Analysis:::2016-08-12T07:20:52

NZD/USD profit target reached. Remain bearish.

Our profit target was reached yesterday. We look to sell on strength below 0.7250 resistance (Fibonacci retracement + graphical resistance) for a drop to 0.7100 support (Fibonacci retracement + graphical swing low).

RSI (34) has reacted beautifully off our resistance as expected signaling a bearish move is in progress.

NZD/USD profit target reached. Remain bearish.

Sell below 0.7250. Stop loss at 0.7325. Take profit at 0.7100.

Analyst InstaForex
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