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Atirox.com - Daily Analysis
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[QUOTE="andy.atx, post: 183647, member: 58758"] [SIZE=7][B]NZD/USD: TECHNICAL ANALYSIS 27.07.20[/B][/SIZE] [URL='https://atirox.com/wp-content/uploads/NZDUSDH427072020.png'][IMG]https://atirox.com/wp-content/uploads/NZDUSDH427072020.png[/IMG][/URL] [B]Current trend[/B] On a 4-hour chart, The price has tested the resistance level of 0.66804 and was slightly corrected downwards, but the general upward trend still maintains. The main target of downward the correction is the level of 0.66528 which coincided with the middle line of Bollinger Bands. As the key target of the correction, this level can prevent the instrument from falling. However, the breakdown of this level will be a signal of the downward trend resumption and let the price decline to the area of 0.66223. [B]Alternative scenario[/B] If the "bulls" manage to raise the rate above the level of 0.66833, the growth can continue to the area of 0.67139. This level can prevent the instrument from growing, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakout of this level will be a signal of the upward trend resumption. In this case, the buyers will aim for the 0.67444 resistance. [B]Technical indicators[/B] Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term. Bollinger Bands are diverging on the background of bullish momentum. MACD is growing in a positive zone. Stochastic is pointed upwards, reflecting the high possibility of the upward movement formation. [B]Support and resistance[/B] Support levels: 0.66528, 0.66223, 0.65918. Resistance levels: 0.66833, 0.67139, 0.67444. [B]Trading recommendations[/B] Short positions can be opened below the level of 0.66528 with the target at around 0.66223 and stop-loss at 0.66625. Long positions can be opened above the level of 0.66833 with the target at around 0.67139 and stop-loss at 0.66731. [/QUOTE]
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