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Long

NZDUSD BUY LONG TERM 60-90 DAYS

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
NZDUSD BUY LONG TERM 60-90 DAYS
Great idea on NZDUSD, glad that we have the same bullish view. We found a break out in the falling flag, which is a bullish signal. Our first resistance turned support is at 0.6900 and our second resistance is at 0.7147-0.7186 (horizontal pullback resistance, 76.4% Fibonacci retracement). Our support is at 0.6700 where a 38.2% Fibonacci retracement lies. Fundamentally, James Powell’s comments have been seen to be sending the US dollar lower. Reduced expectations of the future Fed rate hikes in 2019 have manifested into NZD and EM strength and the market is gunning for a pause in the Feds hiking cycle. This should limit the downside in NZDUSD.
Please take a look at our idea and let us know what you think!

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