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Technical analysis for the NZDUSD on 15.06.2015

The NZDUSD: the downtrend has turned into consolidation

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7185

Min. 0.6900

nzdusd5

Having breached support at 0.7030, the New Zealand dollar consolidated above 0.6965 support.

Decline towards 0.6965 support occurred at low volumes and low volatility. There’s a big chance that price will rebound up from this mark.

Potential correction target is situated at 0.7030, and is now acting as resistance. If the price passes the 0.7030 barrier, the next target on the way up will be situated at 0.7085.

Alternative scenario: to continue the downtrend, bears have to break and hold below 0.6965 support.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The NZDUSD: the downtrend has turned into consolidation

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7185

Min. 0.6900

nzdusd5

Having breached support at 0.7030, the New Zealand dollar consolidated above 0.6965 support.

Decline towards 0.6965 support occurred at low volumes and low volatility. There’s a big chance that price will rebound up from this mark.

Potential correction target is situated at 0.7030, and is now acting as resistance. If the price passes the 0.7030 barrier, the next target on the way up will be situated at 0.7085.

Alternative scenario: to continue the downtrend, bears have to break and hold below 0.6965 support.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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