NZD/USD: TRADING RECOMMENDATIONS – Analytics & Forecasts – 24 August 2021

Presently, NZD / USD is buying and selling close to the 0.6938 mark, receiving help from the weakening US greenback. The closest progress targets are resistance ranges 0.6976, 0.7005, 0.7035.

Their breakdown will trigger additional progress in NZD / USD in the direction of the native resistance degree of 0.7105 (July highs), and additional to resistance ranges of 0.7240 (38.2% Fibonacci retracement), 0.7300. Extra distant progress targets are positioned at resistance ranges 0.7430, 0.7550 (50% Fibonacci degree), 0.7600.

In another state of affairs and after a confirmed breakout of the 0.6865 help ranges (23.6% Fibonacci degree), 0.6845 NZD / USD will head in the direction of the 0.6700 help degree (the decrease line of the descending channel on the weekly chart). A breakdown may lastly push the NZD / USD right into a bear market zone and return it to the worldwide downtrend that started in July 2014 (see additionally  “Fundamental Analysis and Recommendations”)

Buying and selling suggestions

Promote Cease 0.6895. Cease-Loss 0.6965. Take-Revenue 0.6865, 0.6845, 0.6800, 0.6700

Purchase by market, Purchase Cease 0.6965. Cease-Loss 0.6895. Take-Revenue 0.6976, 0.7005, 0.7035, 0.7105, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600

*) NZD/USD:  Current Fundamental Analysis and Market Expectations

**) essentially the most up-to-date “sizzling” analytics and buying and selling suggestions (together with entries into trades “by-the-market”) –

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