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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 182671, member: 58758"] [SIZE=7][B]NZD/USD: TECHNICAL ANALYSIS 29.06.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/NZDUSDH429062020.png'][IMG]https://atirox.com/wp-content/uploads/NZDUSDH429062020.png[/IMG][/URL] [B]Current trend[/B] NZD/USD is in the stage of upward correction after falling to the level of 0.64015. At the moment the price has met the resistance at 0.64351 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this mark can activate a downward reverse of the price. Meanwhile, the breakout of this level and pair are sustained above 0.64500 will be a signal of the upward trend resumption and give a prospect of the growth to the area of 0.64697-0.64800. [B]Alternative scenario[/B] The downward rebound from 0.64392 and pullback below 0.64179 will be a sign of the downward movement resumption and let the price re-test the 0.64087-0.64015 support area. One may speak about downward movement continuation after the price consolidates below the support level of 0.63934. In this case, the sellers will aim for the 0.63782-0.63650. [B]Technical indicators[/B] Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are converging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed downwards. [B]Support and resistance[/B] Support levels: 0.64087, 0.63934, 0.63782. Resistance levels: 0.64392, 0.64545, 0.64697. [B]Trading recommendations[/B] Short positions can be opened below the level of 0.64000 with the target at around 0.63934-0.63782 and stop-loss at 0.64072. Long positions can be opened above the level of 0.64392 with the target at around 0.64650 and stop-loss at 0.64306. [/QUOTE]
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