FXWIREPRO: NZD/USD Breaks Strong Resistance at 0.6850, Good to Go Long on Close Above, Target 0.6925

FXWIREPRO: NZD/USD Breaks Strong Resistance at 0.6850, Good to Go Long on Close Above, Target 0.6925

• Broad based weakness in US Dollar and rising commodities buoying the Kiwi. 
• The pair has broken strong resistance at 0.6850 on the day, but has pared some gains to currently trade at 0.6836 levels. 
• Close above 0.6850 will see further upside to 0.6883/0.6897/0.06925 levels. 
• Price action on the weekly charts has entered cloud, and technicals point to further gains. 
• Our previous call (http://www.econotimes.com/FxWirePro-NZD-USD-extends-rally-on-the-067-handle-break-above-06785-resistance-to-test-06835-levels-180263) has achieved all targets. 
• 0.6850 is strong resistance for the pair. Only decisive close above could see further upside.
  

Recommendation: - We advise booking full profits in the trade.

- Enter fresh longs only on close above 0.6850, SL: 0.6800, TP: 0.6883/0.6897/0.6925

The material has been provided by InstaForex Company - www.instaforex.com