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    Technical analysis for the NZDUSD on 08.06.2015

    The NZDUSD: downtrend preserves

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.7150

    Min. 0.6900

    nzdusd2

    The New Zealand dollar keeps refreshing its weekly lows, breaking strong support levels on the way. Downtrend is developing at increased volume – dominating bearish potential preserves.

    The price broke 0.7080 support on Friday, which formed at the beginning of the last week. Level 0.7080 is currently acting as resistance.

    Corrective growth into the range of 0.7080 resistance will most likely trigger consolidation, followed by the bounce down and continuation of the bearish trend towards the next targets at 0.7000, 0.6900.

    Alternative scenario: long consolidation above 0.7085 resistance is probable.

    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: downtrend preserves

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips Max. 0.7150

    Min. 0.6900

    nzdusd2

    The New Zealand dollar keeps refreshing its weekly lows, breaking strong support levels on the way. Downtrend is developing at increased volume – dominating bearish potential preserves.

    The price broke 0.7080 support on Friday, which formed at the beginning of the last week. Level 0.7080 is currently acting as resistance.

    Corrective growth into the range of 0.7080 resistance will most likely trigger consolidation, followed by the bounce down and continuation of the bearish trend towards the next targets at 0.7000, 0.6900.

    Alternative scenario: long consolidation above 0.7085 resistance is probable.

    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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