NZD / USD is declining, and, having broken through the important long-term support level 0.7020, it is trying to develop the downward dynamics, moving in the descending channel on the weekly chart towards the support levels 0.6865 (Fibonacci level 23.6% retracement in the global wave of the pair's decline from the level 0.8820), 0.6840. The breakout of the 0.6865, 0.6840 support levels could finally push the NZD / USD into the bear market zone and return it to the global downtrend that began in July 2014 (see also "Fundamental Analysis and Recommendations")
In an alternative scenario, and after the breakdown of the resistance level 0.7020, NZD / USD will resume growth, and the breakdown of the resistance levels 0.7063, 0.7105 will confirm the resumption of the bullish trend.
Trading recommendations
Sell Stop 0.6970. Stop-Loss 0.7025. Take-Profit 0.6945, 0.6900, 0.6865, 0.6840, 0.6800
Buy Stop 0.7025. Stop-Loss 0.6970. Take-Profit 0.7063, 0.7105, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600
*) NZD/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
***) trade! invite partners! earn!
