FxWirePro: Short NZD/JPY break below 20-DMA at 74.28, target 72.90

14 September 2016, 03:25
Eko Rediantoro
0
5

  • NZD/USD intraday bias lower, finds strong support by 20-DMA at 74.28.
     
  • Techs are bearishly aligned, RSI is biased lower, Stochs show bearish rollover from overbought zone.
     
  • MACD line is on the verge of bearish crossover on signal line.
     
  • Break below 20-DMA should be a good shorting opportunity.
     
  • Major support levels - 74.28 (20-DMA), 74 (50-DMA), 73.27 (tripple bottom Sept 11, Aug 25,26), 73, 72.90 (trendline)
     
  • Major resistance levels - 74.97 (session high), 75, 75.85 (trendline)

Recommendation: Go short on break below 20-DMA at 74.28, SL: 74.60, TP: 74/ 73.25/ 73/ 72.90


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