NZD/USD has escaped from the down channel and now is located above the downtrend line. The upside breakout signal that we may have an upwards reversal in the short term and that the downside movement is over.

Increasing and passing above the 0.7067 former high indicates that the buyers could take full control and that NZD/USD may resume its growth.

Trading Conclusion!

Jumping above 0.7067 and reaching 0.7080 is seen as a potential buying opportunity with first upside targets at 0.7150 and 0.7200 psychological level. The Stop Loss could be placed and hidden below 0.6946 level.

A drop below 0.6946 could invalidate an upside movement and could bring a new selling opportunity.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.