ByLCMS Traders FX Analysis Team
AUG 11, 2021
NZD/USD Daily Forecast
NZD/USD bulls managed to close near 0.7000 yesterday but appear to be struggling now to gain any further ground. Currently, the pair is trading almost unchanged at 0.7001 with immediate support levels at 0.6977 and 0.6955. The intraday resistance levels are at 0.7018 and 0.7044.
On the intraday charts, the current price is near the SMA-14 line which is at 0.6997 while the SMA-50 resistance line is at 0.7027. The RSI is at 49 appears flat, the MACD is below the middle line and favors the bears. The current intraday price pattern is bearish despite yesterday’s gains which makes the pair ideal for selling entries using the following levels
Direction: Sell
Entry: 0.7000
Take Profit: 0.6960
Stop-Loss: 0.7035
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