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NZD/USD: TECHNICAL ANALYSIS 24.06.20
NZDUSDH424062020.png

Current trend

 

NZD/USD quotes attempted to grow, but reaching 0.65134 mark moved to a downward correction. At the moment, the price has met the support at 0.64486 level around the middle line of Bollinger Bands. Assuming the pair’s ability to cross this mark, the level of 0.64357 can be targeted if holding sell positions. This area seems a strong support-line, which can activate an upward reverse of the price. Meanwhile, the decisive break of 0.64350 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 0.64087-0.63998 area.

 

Alternative scenario

 

The upward rebound from 0.64486 and pullback above 0.64697 will be a sign of the upward trend resumption and let the price grow to the area of 0.65002 level, which impedes growth to today's high at 0.65326 resistance-line. The breakout and consolidation above it will give the prospect of growth to the level of 0.65613.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are converging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive zone.

 

Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

 

Support and resistance

 

Support levels: 0.64392, 0.64087, 0.63782.
Resistance levels: 0.64697, 0.65002, 0.65308.

 

Trading recommendations

 

Short positions can be opened below the level of 0.64392 with the target at around 0.64087 and stop-loss at 0.64493.
Long positions can be opened above the level of 0.64697 with the target at around 0.65002 and stop-loss at 0.64595.

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XAU/USD: TECHNICAL ANALYSIS 24.06.20
XAUUSDH424062020.png

Current trend

 

XAU/USD is in the stage of a downward correction after growing to the level of 1773.80. The first support-line for the pair is located on 1765.63 level. The breakdown of this mark will confirm the downward correction development and let the price decline to the area of 1758.18-1754.75. The key “bearish” level for the pair is 1752.46-1750.00 area at the middle line of Bollinger bands. This zone can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the decisive breakout of 1750.00 is needed to indicate the downward trend resumption. In this case, the sellers will aim for the 1746.00-1740.00 area.

 

Alternative scenario

 

If the instrument cannot consolidate below the level of 1765.63, it will begin to grow to the area of today's high at 1773.80. The breakout of this level will be a signal of the upward trend resumption and give a prospect of the growth to the area of 1777.00-1781.25 resistance.

 

Technical indicators

 

Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term.

 

Bollinger Bands are pointed upwards.

 

MACD is growing in a positive zone.

 

Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward correction.

 

Support and resistance

 

Support levels: 1765.63, 1758.18, 1754.78, 1750.00.
Resistance levels: 1773.80, 1777.00, 1781.25.

 

Trading recommendations

 

Short positions can be opened below the level of 1765.63 with the target at around 1760.00 and stop-loss at 1767.50.
Long positions can be opened above the level of 1773.80 with the target at around 1778.00 and stop-loss at 1772.40.

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EUR/JPY: TECHNICAL ANALYSIS 24.06.20
EURJPYH424062020.png

Current trend

 

On a 4-hour chart, the pair is trading above the middle line of Bollinger bands suggesting bullish momentum. The first strong resistance for the pair is located on 120.703 resistance. Should prices continue growing above this level, the mark of 121.094 might try activating a downward reverse of the price. Meanwhile, the decisive breakout of 121.100 can trigger a pair’s fresh run-up to an 8-days high surrounding 121.484.

 

Alternative scenario

 

The downward rebound from 120.703 resistance could lead the price back to 120.313-120.242 area, which seems a strong support-zone. The downward trend will be restored after the price is set below the level of 119.896, which is the middle line of Bollinger Bands. In this case, the sellers will aim for the 119.531 support-line.

 

Technical indicators

 

Technical indicators maintain a buy signal.

 

Bollinger Bands are diverging on the background of bullish momentum.

 

MACD is growing in a positive zone.

 

Stochastic is pointed sideways, reflecting the relative calmness of the market.

 

Support and resistance

 

Support levels: 120.313, 119.922, 119.531.
Resistance levels: 120.703, 121.094, 121.484.

 

Trading recommendations

 

Short positions can be opened below the level of 120.313 with the target at around 119.922 and stop-loss at 120.443.
Long positions can be opened above the level of 120.703 with the target at around 121.094 and stop-loss at 120.572.

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EUR/USD: TECHNICAL ANALYSIS 25.06.20
EURUSDH425062020.png

Current trend

 

On a 4-hour chart, the instrument is trading below the middle line of Bollinger Bands suggesting bearish momentum. If the current trend maintains, the next target of the sellers will be 1.12305 level. This mark seems a strong support-line, which can activate an upward reverse of the price. On the flip-side, the breakdown of 1.12300 will be a signal of the downward trend resumption and give a prospect of decline to the area of 1.12000-1.11694.

 

Alternative scenario

 

The upward rebound from 1.12305 and pullback above 1.12700 (the middle line of Bollinger Bands) will be a signal of the upward movement resumption and let the price grow to the area of 1.12915 resistance. The decisive break of 1.12915 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 1.13200-1.13525 resistance-area.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are converging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive zone.

 

Stochastic’s lines are pointed downwards and are reaching the oversold area.

 

Support and resistance

 

Support levels: 1.12305, 1.12000, 1.11694.
Resistance levels: 1.12700, 1.12915, 1.13200, 1.13500.

 

Trading recommendations

 

Short positions can be opened below the level of 1.12305 with the target at around 1.12000 and stop-loss at 1.12405.
Long positions can be opened above the level of 1.12700 with the target at around 1.13000 and stop-loss at 1.12600.

 

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USD/CAD: TECHNICAL ANALYSIS 25.06.20
USDCADH425062020.png

Current trend

 

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. Assuming the continuation of the current trend, the next bullish target is located on 1.36719 level. As a strong resistance-line, this mark can activate a downward reverse of the price. Meanwhile, the breakout of 1.36719 and pair’s sustained trading above 1.36852 will be a signal of the upward trend resumption and give a prospect of the growth to the area of 1.37000-1.37329.

 

Alternative scenario

 

The pullback below 1.36108 will be a sign of the downward correction formation and let the price decline to the area of 1.35835-1.35508. The lower border of this channel is coincided with the middle line of Bollinger Bands and can prevent the instrument from falling. One may speak about downward movement continuation after the price consolidates below the support level of 1.35498. In this case, the next targets of sellers will be the level of 1.35200-1.35000.

 

Technical indicators

 

Technical indicators maintain a buy signal.

 

Bollinger Bands are diverging on the background of bullish momentum.

 

MACD is growing in a positive zone.

 

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 1.36108, 1.35838, 1.35508, 1.35200.
Resistance levels: 1.36719, 1.37000, 1.37329, 1.37600.

 

Trading recommendations

 

Short positions can be opened below the level of 1.36108 with the target at around 1.35800 and stop-loss at 1.36208.
Long positions can be opened above the level of 1.36400 with the target at around 1.36700 and stop-loss at 1.36300.

 

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USD/CHF: TECHNICAL ANALYSIS 25.06.20
USDCHFH425062020.png

Current trend

 

On the 4-hour chart, the instrument keeps a positive dynamic. At the moment the price has met the resistance at 0.94912. This level can activate a downward reverse of the price. Slightly overbought Stochastic conditions on hourly charts reflect the high possibility of the downward movement formation. Meanwhile, the breakout of 0.94912 and pair are sustained above 0.95000 will be a signal of the upward trend resumption and let the price grow to the area of 0.95215-0.95300.

 

Alternative scenario

 

The pullback below 0.94798 will be a signal of the downward correction development and let the price decline to the area of 0.94712 level, which coincided with the middle line of Bollinger Bands. As the key correction target, this line can activate an upward reverse of the price. However, the breakdown of 0.94700 will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.94604-0.94450.

 

Technical indicators

 

Technical indicators mostly keep a buy signal, but the downward correction is possible in the short term.

 

Bollinger Bands are converging on the background of bullish momentum.

 

MACD is decreasing in the negative zone.

 

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 0.94712, 0.94500, 0.94299.
Resistance levels: 0.94910, 0.95215, 0.95300, 0.95520.

 

Trading recommendations

 

Short positions can be opened below the level of 0.94700 with the target at around 0.94450 and stop-loss at 0.94783.
Long positions can be opened above the level of 0.94910 with the target at around 0.95200 and stop-loss at 0.94810.

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GBP/USD: TECHNICAL ANALYSIS 26.06.20
GBPUSDH426062020.png

Current trend

 

GBP/USD is trading below its middle line of Bollinger Bands suggesting bearish momentum. The first support for the pair is located on the 1.23901 level. The breakdown of this mark will be a signal of the downward trend resumption and let the price decline to the area of 1.23645-1.23291. The lower border of this channel seems a tough support-line which can activate an upward reverse of the price. Meanwhile, the decisive breakdown of 1.23291 will accelerate the plunge towards 1.23000.

 

Alternative scenario

 

If the "bulls" manage to raise the rate above the level of 1.24300, the correction can continue to the area of 1.24638, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this level can activate a downward rebound. One may speak about upward movement continuation after the price consolidates above the resistance level of 1.24700. In this case, the next targets of buyers will be the level of 1.25000-1.25122.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD is growing in the negative zone.

 

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 1.23901, 1.26600, 1.23291.
Resistance levels: 1.24300, 1.24638, 1.25000.

 

Trading recommendations

 

Short positions can be opened below the level of 1.23901 with the target at around 1.23600 and stop-loss at 1.24000.
Long positions can be opened above the level of 1.24638 with the target at around 1.24900 and stop-loss at 1.24550.

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USD/JPY: TECHNICAL ANALYSIS 26.06.20
USDJPYH426062020.png

Current trend

 

On the 4-hour chart, the instrument keeps a moderate negative dynamic amid the downward correction. The price is approaching strong support in the region of 107.031. There is a high chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 106.813 support-line, which coincided with the middle line of Bollinger Bands. This zone can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Meanwhile, the breakdown of 106.800 and the pair’s sustained trading below it could pop-up 106.641-106.514 as the next seller's targets.

 

Alternative scenario

 

The upward rebound from 107.081 and pullback above 107.243 will be a sign of the upward movement resumption and let the price re-test the yesterday's high at 107.449. As a strong resistance, this level can stop the upward dynamic. However, the decisive breakout of 107.449 is needed to indicate the upward trend resumption. In this case, the sellers will aim for the 107.617-107.813 resistance-area.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD is growing in a positive zone.

 

Stochastic’s lines are pointed downwards and are reaching the oversold area.

 

Support and resistance

 

Support levels: 107.031, 106.836, 106.641.
Resistance levels: 107.227, 107.449, 107.617, 107.813.

 

Trading recommendations

 

Short positions can be opened below the level of 107.031 with the target at around 106.730 and stop-loss at 107.131.
Long positions can be opened above the level of 107.227 with the target at around 107.500 and stop-loss at 107.136.

 

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AUD/USD: TECHNICAL ANALYSIS 26.06.20
AUDUSDH426062020.png

Current trend

 

On the 4-hour chart, the instrument is trading below the middle line of Bollinger Bands, suggesting the bearish momentum. The strong support area for the pair is located on the 0.68665-0.68546 zone. The breakdown of the lower border is needed to indicate the downward trend resumption. Ib this case, the sellers will aim for the 0.68359-0.68275 support zone.

 

Alternative scenario

 

If the instrument cannot consolidate below the level of 0.68665, it will begin to grow to the area of 0.68949. The upward trend will be restored after the price is set above the level of 0.69050, which is the middle line of Bollinger Bands. In this case, the next targets of buyers will be the level of 0.69275-0.69400.

 

Technical indicators

 

The technical picture is mixed.

 

Bollinger Bands are pointed downwards.

 

MACD is growing in the negative zone.

 

Stochastic is pointed sideways.

 

Support and resistance

 

Support levels: 0.68665, 0.68359, 0.68054.
Resistance levels: 0.68970, 0.69275, 0.69400.

 

Trading recommendations

 

Short positions can be opened below the level of 0.68546 with the target at around 0.68250 and stop-loss at 0.68644.
Long positions can be opened above the level of 0.69050 with the target at around 0.69350 and stop-loss at 0.68950.

 

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spacer.png

 

CHFJPY today as we see here, the price is still in sideways trend, so you should using trapping strategy, you can sell it at resistance area at 113.350 with potential target up to 112.765

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NZD/USD: TECHNICAL ANALYSIS 29.06.20
NZDUSDH429062020.png

Current trend

 

NZD/USD is in the stage of upward correction after falling to the level of 0.64015. At the moment the price has met the resistance at 0.64351 level, which coincided with the middle line of Bollinger Bands. As the key target of the correction, this mark can activate a downward reverse of the price. Meanwhile, the breakout of this level and pair are sustained above 0.64500 will be a signal of the upward trend resumption and give a prospect of the growth to the area of 0.64697-0.64800.

 

Alternative scenario

 

The downward rebound from 0.64392 and pullback below 0.64179 will be a sign of the downward movement resumption and let the price re-test the 0.64087-0.64015 support area. One may speak about downward movement continuation after the price consolidates below the support level of 0.63934. In this case, the sellers will aim for the 0.63782-0.63650.

 

Technical indicators

 

Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term.

 

Bollinger Bands are converging on the background of bullish momentum.

 

MACD is growing in a positive zone.

 

Stochastic is pointed downwards.

 

Support and resistance

 

Support levels: 0.64087, 0.63934, 0.63782.
Resistance levels: 0.64392, 0.64545, 0.64697.

 

Trading recommendations

 

Short positions can be opened below the level of 0.64000 with the target at around 0.63934-0.63782 and stop-loss at 0.64072.
Long positions can be opened above the level of 0.64392 with the target at around 0.64650 and stop-loss at 0.64306.

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EUR/JPY: TECHNICAL ANALYSIS 29.06.20
EURJPYH429062020.png

Current trend

 

EUR/JPY quotes attempted to grow, but reaching 120.623 mark moved to a decline. The first strong support for the pair is located on 120.313 level, which coincided with the middle line of Bollinger Bands. There is a chance of an upward rebound of the price. However, the breakdown of 120.313 will be a signal of the downward trend resumption and let the price decline to the area of 120.125-120.000.

 

Alternative scenario

 

The upward rebound from 120.313 will let the price re-test today's high at 120.623. In order to continue the upward dynamic, the EUR/JPY pair should consolidate above 120.703 resistance. In this case, the buyers will aim for the 121.000-121.073 level.

 

Technical indicators

 

The technical picture is mixed.

 

Bollinger Bands are pointed sideways.

 

MACD volumes are decreasing in the negative zone.

 

Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward movement.

 

Support and resistance

 

Support levels: 120.313, 120.000, 119.804.
Resistance levels: 120.703, 121.000, 121.300.

 

Trading recommendations

 

Short positions can be opened below the level of 120.313 with the target at around 120.000 and stop-loss at 120.413.
Long positions can be opened above the level of 120.703 with the target at around 121.000 and stop-loss at 120.603.

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EUR/USD: TECHNICAL ANALYSIS 30.06.20
EURUSDH430062020.png

Current trend

 

On the 4-hour chart, the instrument keeps a moderate positive dynamic amide the upward correction. The first strong resistance for the pair is located at 1.12511-1.12610 area. The breakout of the upper border of this channel will be a signal of the upward trend resumption and give a prospect of the growth to the area of 1.12915 level. As a strong resistance-line, this level can activate a downward reverse of the price. Meanwhile, its breakout can trigger a pair's active growth to the area of 1.13220.

 

Alternative scenario

 

The downward rebound from 1.12511 and pullback below 1.12305 support-line (which is the middle line of Bollinger Bands) will be a signal of the downward trend resumption and let the price decline to the area of 1.12000.

 

Technical indicators

 

Technical indicators maintain a buy signal.

 

Bollinger Bands are diverging on the background of bullish momentum.

 

MACD volumes are decreasing in the negative zone.

 

Stochastic has left the oversold area and is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 1.12305, 1.12000, 1.11694.
Resistance levels: 1.12610, 1.12915, 1.13220.

 

Trading recommendations

 

Short positions can be opened below the level of 1.12305 with the target at around 1.12000 and stop-loss at 1.12405.
Long positions can be opened above the level of 1.12610 with the target at around 1.12915 and stop-loss at 1.12510.

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USD/CAD: TECHNICAL ANALYSIS 30.06.20
USDCADH430062020.png

Current trend

 

USD/CAD is in the stage of consolidation in the side channel 1.36511-1.36705 after significant growth over the last week. The lower border of this channel coincides with the middle line of Bollinger Bands. The breakdown of this level and pair’s sustained trading below the 1.36414 will be a signal of the downward trend resumption and let the price decline to the area of 1.36108 level.

 

Alternative scenario

 

If the instrument cannot consolidate below the level of 1.36511 during the short-term period, the price can reverse and retest the resistance level of 1.36719. The decisive break of this mark is needed to indicate the upward trend resumption. In this case, the next targets of buyers will be the level of 1.37024.

 

Technical indicators

 

Technical indicators reflect the maintenance of the downward potential.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive zone.

 

Stochastic’s lines are pointed downwards and are reaching the oversold area.

 

Support and resistance

 

Support levels: 1.36414, 1.36108, 1.35803.
Resistance levels: 1.36719, 1.37024, 1.37329.

 

Trading recommendations

 

Short positions can be opened below the level of 1.36414 with the target at around 1.36108 and stop-loss at 1.36510.
Long positions can be opened above the level of 1.36719 with the target at around 1.37024 and stop-loss at 1.36615.

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USD/CHF: TECHNICAL ANALYSIS 30.06.20
USDCHFH430062020.png

Current trend

 

USD/CHF quotes attempted to grow, but reaching 0.95243 mark moved to a downward correction. At the moment the price has met the support at 0.95062 level. The breakdown of this mark will confirm the downward correction development and let the price decline to the area of 0.94910-0.94757 area. This area can prevent the instrument from falling, as the possibility of the reverse of the price is high there. However, the breakdown of the 0.94757 level will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.94604-0.94452 support.

 

Alternative scenario

 

The upward rebound from 0.95062 will let the price re-test the yesterday high at 0.95243. The breakout of this level will be a signal of the upward trend resumption. In this case, the buyers will aim for the 0.95367-0.95520 resistance-area.

 

Technical indicators

 

Technical indicators maintain a buy signal.

 

Bollinger Bands are diverging on the background of bullish momentum.

 

MACD is growing in a positive zone.

 

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 0.95062, 0.94910, 0.94757, 0.94604.
Resistance levels: 0.95243, 0.95367, 0.95520.

 

Trading recommendations

 

Short positions can be opened below the level of 0.95062 with the target at around 0.94757 and stop-loss at 0.95160.
Long positions can be opened above the level of 0.95243 with the target at around 0.95500 and stop-loss at 0.95157.

 

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GBP/USD: TECHNICAL ANALYSIS 01.07.20

Current trend

 

GBP/USD quotes attempted to grow, but reaching 1.24008 mark moved to a downward correction. The first target of the correction is located on 1.23470 level, which corresponds to the middle line of Bollinger Bands. This level can prevent the instrument from falling, as the possibility of the reverse of the price is high there. One may speak about downward movement continuation after the price consolidates below the support level of 1.23291. In this case, the next targets of sellers will be the level of 1.23000-1.22681.

 

Alternative scenario

 

The upward rebound from 1.23470 will let the price re-test the yesterday's high at 1.24008. The decisive breakout of 1.24008 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 1.24300-1.24512 resistance area.

 

Technical indicators

 

Technical indicators mostly maintain a sell signal.

 

Bollinger Bands are converging on the background of bearish momentum.

 

MACD volumes are decreasing in the negative zone.

 

Stochastic is preparing to exit the overbought zone and is directed downwards, signaling the development of a downward correction.

 

Support and resistance

 

Support levels: 1.23470, 1.23291, 1.23000, 1.22681.
Resistance levels: 1.24008, 1.24300, 1.24512.

 

Trading recommendations

 

Short positions can be opened below the level of 1.23291 with the target at around 1.23000 and stop-loss at 1.23388.
Long positions can be opened above the level of 1.24008 with the target at around 1.24300 and stop-loss at 1.23910.

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USD/JPY: TECHNICAL ANALYSIS 01.07.20
USDJPYH40107202020.png

Current trend

 

USD/JPY is in the stage of a downward correction after growing to the level of 108.159. At the moment the price has met the support at 107.580 level, which hinders the plunge of quotes to the key correction target at 107.422 (the middle line of Bollinger bands). This level can activate an upward rebound of the price. However, the breakdown of 107.400 and the pair’s sustained trading below 107.318 will be a signal of the downward trend resumption and let the price decline to the area of 107.031 support-line.

 

Alternative scenario

 

The upward rebound from 107.580 and pullback above 107.813 will be a sign of the upward movement resumption and let the price grow to the area of 108.008-108.159. This range seems a strong resistance zone, which can activate a downward reversal of the price. In order to continue the upward trend, USD/JPY should consolidate above 108.203. In this case, the buyers will aim for the 108.500 mark.

 

Technical indicators

 

Technical indicators maintain a sell signal.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD volumes are decreasing in the positive zone.

 

Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

 

Support and resistance

 

Support levels: 107.617, 107.422, 107.227, 107.031.
Resistance levels: 107.813, 108.008, 108.203, 108.500.

 

Trading recommendations

 

Short positions can be opened below the level of 107.422 with the target at around 107.227-107.120 and stop-loss at 107.520.
Long positions can be opened above the level of 107.813 with the target at around 108.100 and stop-loss at 107.713.

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AUD/USD: TECHNICAL ANALYSIS 01.07.20
AUDUSDH401072020.png

Current trend

 

On a 4-hour chart, the instrument is correcting down from the resistance level 0.69166. The price went down below the level of 0.68970 and can decline further to the levels of 0.68817-0.68751. This area can prevent the instrument from falling, as the possibility of the reverse of the price is high there. Herewith the breakdown of 0.68751 and pair’s sustained trading below the 0.68665 support will be a signal of the downward trend resumption and give a prospect of decline to the area of 0.68512-0.68359 support area.

 

Alternative scenario

 

If the instrument cannot consolidate below the level of 0.68817, it will begin to grow to the area of 0.68970-0.69166 resistance. The decisive break of 0.69166 is needed to indicate the upward trend resumption. In this case, the buyers will aim for the 0.69275-0.69427 resistance-zone.

 

Technical indicators

 

Technical indicators mostly keep a sell signal, but the upward movement restoring is possible in the short term.

 

Bollinger Bands are diverging on the background of bearish momentum.

 

MACD is slowly growing in the positive zone.

 

Stochastic has left the overbought area and is pointed downwards, reflecting the high possibility of the downward movement formation.

 

Support and resistance

 

Support levels: 0.68817, 0.68665, 0.68512, 0.68359.
Resistance levels: 0.68970, 0.69122, 0.69275, 0.69427.

 

Trading recommendations

 

Short positions can be opened below the level of 0.68665 with the target at around 0.68359 and stop-loss at 0.68767.
Long positions can be opened above the level of 0.69122 with the target at around 0.69427 and stop-loss at 0.69020.

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NZD/USD: TECHNICAL ANALYSIS 02.07.20
NZDUSDH402072020.png

Current trend

 

On the 4-hour chart, the instrument is growing along the upper line of the Bollinger Bands. The price went up above the level of 0.64850 and can grow further to the level of 0.65002. As a strong resistance this mark can activate a downward reverse of the price. However, its decisive breakout will be a signal of the upward trend resumption and let the price grow to the area of 0.65155-0.65308.

 

Alternative scenario

 

The downward rebound from 0.65002 and pullback below 0.64850 will be a sign of the downward correction development and let the price decline to the mark of 0.64697. The breakdown of this level is needed to confirm the correction. In this case, the next targets of sellers will be the level of 0.64545-0.64392. The lower border of this channel coincides with the middle line of Bollinger Bands. As the key target of the downward correction, the level of 0.64392 can activate an upward reverse. Meanwhile, the breakdown and pair’s sustained trading below it will give a prospect of decline to the area of 0.64240-0.64087.

 

Technical indicators

 

Technical indicators maintain a buy signal.

 

Bollinger Bands are diverging on the background of bullish momentum.

 

MACD is growing in a positive zone.

 

Stochastic is pointed upwards, reflecting the high possibility of upward movement formation.

 

Support and resistance

 

Support levels: 0.64850, 0.64697, 0.64545, 0.64392.
Resistance levels: 0.65002, 0.65155, 0.65308.

 

Trading recommendations

 

Short positions can be opened below the level of 0.64697 with the target at around 0.64392 and stop-loss at 0.65790.
Long positions can be opened above the level of 0.65002 with the target at around 0.65308 and stop-loss at 0.64900.

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