61.8-78.6% Correction Zone on NZD/USD

61.8-78.6% Correction Zone on NZD/USD

Since the beginning of this month, the bullish sentiment has prevailed on the NZD/USD currency pair. New Zealand dollar set new local highs. At the moment, the trading instrument is testing the 61.8-78.6% correction zone. The NZD/USD currency pair has the potential for further recovery after a continuous fall. The local resistance is the level of 0.63400. We recommend paying attention to this situation.

If the price fixes above the level of 0.63400, NZD/USD purchases should be considered. The immediate goal for profit-taking is 0.63700. The movement is tending to 0.63900-0.64100. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustForex 2019.09.17

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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