2020-05-21 • Updated
Since the beginning of May, the NZD/USD has been moving within a larger channel within the support A-A' at 0.5924 and the resistance B-B' at 0.6150. Recently it appears to have completed the upswing A'-B' and is tipping out, bouncing down from the resistance of 0.6150. The question is whether it will make a local drop to test the support of the Moving Averages, all gathered below 0.6060, or it will go lower to visit the tactical and psychological support at 0.6000. If the latter takes place, very likely it will not stop until it comes down to complete the full cycle at 0.5924.
Resistance: 0.6150
Support: 0.6060; 0.6000; 0.5924
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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