Trader, analyst and instructor with a 6-year experience

L.Vereschagin: sell NZD/USD

Authored by Leonid Vereschagin, independent analyst and trader

Chart 1. Daily NZDUSD

The daily timeframe confirms a technical correction from $0.8740. The initial target lies at 0.8520. Old trend line broken on April18 acted as a resistance. RSI oscilator confirms the bearish signal. We's sell after the price corrects to the resistance 0.8740-0.8770 area.

Chart 2. H4 NZDUSD

Trade signal:
SELL in a range 0.8735-0.8770
Stop Loss: 0.8840
Take Profit: 0.8540

Chart 3. H1 NZDUSD

Coclusion: sell-signal confirmed

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