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Long

NZD/USD Short term Outlook

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
87 0 0

RES4 :0.7785 (138.2% retracement of 0.76125 and 0.71616)

RES 3: 0.7711 ( 61.8% retracement of 0.80335 and 0.7175)

RES2: 0.76630 ( 50% retracement of 0.7691 and 0.7390)

RES 1: 0.7630 (Apr 3rd high)

PRICE: 0.75966@ 10:16 GMT            

SUP 1: 0.7558 (20 day 4HMA)

SUP 2: 0.7485 (200 day 4HMA)

SUP 3: 0.7435 ( 50% retracement of 0.7183 to 0.76912)

SUP 4: 0.7390 (Apr 1st 2015)

Commentary:

NZD/USD             has recovered after making a low of 0.7485. Overall trend is bullish as long as support 0.7480 holds.

On the downside minor support is around 0.7555 any break below will drag the pair further down till 0.7485/0.7435 level.

It is good to buy at dips around 0.7550 with stop around 0.7480 for the target of 0.7630/0.7690
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