NZD/USD: Trade ideas for August 14
In H1 chart, NZDUSD found resistance at the level of 0.8488 and this pair is likely to start to perform a retracement that could extend to the support level of 0.8457. If the NZDUSD takes a rebound at this level, it would be expected to rise again to the resistance level of 0.8488.
In addition, if this pair makes a breakout at that resistance level, the next target would be the 0.8536 level, where is located the 500 EMA. The CCI Indicator is starting to show a bearish divergence, so the NZDUSD might continue the bullish trend in the coming hours.
Trading recommendations: Put buy orders when the NZDUSD performs a bullish rebound at the support level of 0.8457, with take profit at the level of 0.8488 and 0.8540 (TP2).