InstaForex - Analytics

    InstaForex

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    NZD/USD Trading Recommendations for 15th June 2016

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    The price reacted off our long-term channel resistance on NZD/USD perfectly and has reached our first take profit target since yesterday. Today we play a continued move down to the 0.6890 level as our next profit target, which is a major fibonacci retracement level graphical support.

    The RSI (21) remains below our resistance, although it would be good to look to sell on strength (market bouncing) to play a further drop since the RSI is close to support.

    Trading recommendations:

    Sell now and once more at 0.7025

    Take profit at 0.6890

    Stop loss at 0.7085


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