Hello traders, NZD/USD
is trading at 0.7008. The Pair is trading in descending resistance and support wedges
pattern. As the price has already touched resistance level
, it can give a small pull back and then break the resistance level
to start a small up trend. If the price breaks the resistance level
at 0.7012, it can start a small up trend and can touch its target price at 0.7052.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don't risk more than 2% of your capital on each trade.
Do follow us for future Forex trend analysis and Ideas.