USD Trading Outlook (28-07-2015)

Medium Term Strategy: Forex Pair of the day

NZD/USD – further weakness
The pair remains in a long-term down trend. The declining 20-day moving average is actively capping the pair and is offering strong resistance. The daily RSI just escaped the oversold area and stands below its neutrality area. As a consequence, further weakness is expected with 0.62 as a first target (2009 overlap area) and 0.5840 in extension. A third target is set at April 2009 bottom at 0.55. Only a break above the strong horizontal resistance and overlap at 0.72 would invalidate this scenario and allow a limited recovery towards the overlap at 0.7570 and even April top at 0.7750.
Back to Currencies Archive

join THOUSANDS OF other people
who trade with easymarkets

Two minutes is all it takes.

You're almost there!

Finish your application and start trading today.


Two minutes is all it takes.