Wednesday 1 June 2016

"Kiwi" is trying to fly!

It lives in New Zealand, such flightless kiwi bird. In honor of it on the trader slang called national currency: "kiwi» = NZD. While the majority of the commodity currencies are experiencing some pressure due to a general strengthening of the US dollar and a slight rebound of oil prices from peaks, our kiwi bird tries to fly.
Since Tuesday NZD/USD pair is trading at the support of the moving averages of 20 and 50 periods and tests the resistance around 0.6805. Index Stochastic Oscillator is in the overbought zone (above 65), but shows no signs of reversal.
While the support at 0.6735 is not broken, the pair opened up to the way towards 0.6845 and further to 0.6890-04 resistance zone. Indicators in H4 at the moment give buy signals. Recommendations for today: buy at the current quote [0.6802/06], but, preferably, not higher than 0.6810 (very aggressive) with the aim of 0.6835 near and more distant in the area of ​​0.6890.


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