NZD/USD (0.6662)
TESTING AT STRONG SUPPORT
For the last few hours trading within the band of 0.6709 and 0.6657 (52 pips). Now its testing the 0.6657 levels. Trading below 0.6664 which is the 38.2% of 0.6724-0.6568. If it sustains below the level of 0.6664 it'll kiss the level of 0.6627 which is 61.8% support of 0.6724-0.6568. Hourly RSI is below the mid-point level. And if make the bottom at 0.6657 then it'll resume the range bound trading from 0.6709-0.6657. At the same time it formed Head n Shoulders on Hourly charts, the neckline comes at 0.6657/0.6664. Breakdown from the neckline then it take the support at 0.6627 and 0.6568
TESTING AT STRONG SUPPORT
For the last few hours trading within the band of 0.6709 and 0.6657 (52 pips). Now its testing the 0.6657 levels. Trading below 0.6664 which is the 38.2% of 0.6724-0.6568. If it sustains below the level of 0.6664 it'll kiss the level of 0.6627 which is 61.8% support of 0.6724-0.6568. Hourly RSI is below the mid-point level. And if make the bottom at 0.6657 then it'll resume the range bound trading from 0.6709-0.6657. At the same time it formed Head n Shoulders on Hourly charts, the neckline comes at 0.6657/0.6664. Breakdown from the neckline then it take the support at 0.6627 and 0.6568
posted by Naveen Pantera at 9:27 PM
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