NZD/USD rallies back to 0.6489 weekly resistance

Duncan Cooper ACY Securities

NZD/USD monthly

Monthly support at 0.6204, resistance at 0.6527.

Monthly chart is in a downtrend showing lower tops and bottoms. Price has tested the 0.6204 monthly support level.

NZD/USD weekly

Weekly support at 0.6206, resistance at 0.6489 and 0.6512.

Weekly chart is in a downtrend. Price is rallying back to the 0.6489 – 0.6512 weekly resistance area.

NZD/USD daily

Daily support at 0.6206, resistance at 0.6568.

Daily chart is in a downtrend showing lower tops and bottoms. Looking to sell a reversal at the 0.6489 – 0.6512 weekly resistance area after the release of the RBNZ interest rate decision on Wednesday.

Target 0.6204 monthly support.

Author

Duncan Cooper

ACY Securities

Duncan Cooper is a full-time trader and mentor. He has been actively trading the financial markets for more than 15 years and has traded stocks, options, futures, and the Forex Market since 2005.

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