Similar to AUDUSD
, NZD also managed to pull of a remarkable recovery within a span of few weeks. However, it's not out of trouble. In the daily chart
, it's way below the 100D EMA
despite the recent gains which indicate the trend is still bearish
So, the best area to sell NZDUSD
, in my opinion, is 0.6100-0.6240.
0.62 was a very strongly Support previous which can now act as strong resistance to limit any upside.