InstaForex - Analytics

    InstaForex

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    NZD/USD Trading Recommendations 14th June 2016

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    We can see how NZD/USD has reacted off our long-term channel resistance here and has also shown a bearish divergence vs stochastics signalling a big drop is impending.

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    Our strategy for the day is a drop from here to 0.6970. We can see how the RSI has reacted well below the pullback resistance too. 0.6970 is a fibonacci retracement level, too, along with a graphical support level.

    Trading recommendations:

    Sell now

    Stop loss: 0.7150

    Take profit: 0.6970


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