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Technical analysis for the NZDUSD on 12.06.2015

The NZDUSD is consolidating below the last week’s low of 0.7030

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7100

Min. 0.6900

nzdusd4

The New Zealand dollar keeps trading to the downside. After the interest rate cut from 3.50% to 3.25% bears seized the medium-term initiative in the market.

The price is currently traded below 0.7030 resistance, which has recently acted as the key support. This consolidation may be considered as a good signal for the rebound down.

Potential decline targets are situated at 0.7000, 0.6900, 0.6800.

Alternative scenario: the breakout of 0.7030 resistance will trigger correction up with the target at 0.7085.

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 is consolidating below the last week’s low of 0.7030

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 0.7100

Min. 0.6900

nzdusd4

The New Zealand dollar keeps trading to the downside. After the interest rate cut from 3.50% to 3.25% bears seized the medium-term initiative in the market.

The price is currently traded below 0.7030 resistance, which has recently acted as the key support. This consolidation may be considered as a good signal for the rebound down.

Potential decline targets are situated at 0.7000, 0.6900, 0.6800.

Alternative scenario: the breakout of 0.7030 resistance will trigger correction up with the target at 0.7085.

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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