NZDUSD Technical Overview and Potential Trade Opportunities

As we have mentioned in our previous forecast and trade ideas, NZD was one of the weakest currency against USD. We have tried to put the reasons straight and clear.

You can read the previous forecast : NZDUSD FORECAST AND TECHNICAL ANALYSIS

We have reached our target 0.66200. NZDUSD ended the week at 0.66180.

What is next?

Midterm targets are published in the above mentioned article. Shorter term price action will be determined by 0.66200 support. A major retracement might take place at 0.65500 confirmed by Bullish Shark and Bullish Crab Patterns.

If the pair breaks above 0.66200, it is likely to test the 0.66800 resistance which can be used as selling opportunity.

Trade idea will be updated and shared with the members.