Long-Term Bearish Outlook for NZDUSD
This is my long-term view on the NZDUSD. We might see this pair trade in a tight range over the weeks.
It seems to be trading around .6780s to about .6640s
Support looks to be around .6630s major breaks through this level could be a long way down below. Target could be .6490s at the .382 FIB level.
Strong Major Resistance still looks to be at .6890s. I don't see any reason to be BULLISH unless the price closes above this level.
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
It seems to be trading around .6780s to about .6640s
Support looks to be around .6630s major breaks through this level could be a long way down below. Target could be .6490s at the .382 FIB level.
Strong Major Resistance still looks to be at .6890s. I don't see any reason to be BULLISH unless the price closes above this level.
DISCLAIMER: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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