MTrading_Global

NZDUSD Testing Important Resistance

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Following its bounce from 0.6250-40 support area , the NZDUSD             managed to mark the highest level since late-August; however, 0.6490 - 0.6500 horizontal resistance restricted further advances by the pair on Monday. Should the pair breaks 0.6500 on a closing basis, chances of its rally to 0.6700 important resistance region can't be denied; though, 0.6595 - 0.6600 can act as intermediate resistance for the pair.

Alternatively, a pullback from the current level can quickly make the pair test 0.6400 and 0.6300 consecutive support levels prior to re-testing 0.6250-40 support-zone. Given the pair's inability to hold the declines near 0.6240, the pair becomes vulnerable to test 0.6100 area.
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