NZD/USD still trading up within the ascending channel and
above the 200 Moving Average. It broke above both 161.8% and 261.8% while
hasn’t tested 361.8% Fibs level (0.7365)
Currently pair is trading at the support (0.7295) which
could result in another wave up towards 361.8% Fibs. Consider buying NZD/USD
while the rate is near 0.7300, targeting 0.7365 level. The suggested stop loss
0.7270.
Support: 0.7295
Resistance: 0.7365
The material has been provided by InstaForex Company – www.instaforex.com
The post Technical analysis of NZD/USD for November 7, 2016 appeared first on forex-analytics.press.