Having acquired help from the RBNZ, which introduced its intention to tighten mortgage lending requirements from October 1, the NZD / USD pair rose fairly sharply throughout at this time’s Asian session, making one other try to interrupt by means of the important thing resistance degree of 0.7015.
The worth has damaged by means of the vital short-term resistance ranges 0.6978, 0.7011, and the technical indicators OsMA and Stochastic on the 1-hour, 4-hour, each day, weekly NZD / USD charts sign lengthy positions.
Within the various situation, and after the breakdown of the help degree at 0.6978, NZD / USD will resume decline in direction of the decrease border of the descending channels on the each day and weekly charts, passing close to the marks of 0.6865, 0.6845. Key long-term help ranges are additionally situated at these marks. Their breakout 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”)
Promote Cease 0.6990. Cease-Loss 0.7020. Take-Revenue 0.6978, 0.6970, 0.6945, 0.6900, 0.6865, 0.6845
Purchase Cease 0.7020. Cease-Loss 0.6990. Take-Revenue 0.7050, 0.7105, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600
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