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Long NZD/USD

Forex - www.trade2win.com
From the May low to the recent high, the 0.236 acts as significant level of S/R.

It hits new highs between 0.7220-0.7228 before breaking up to highest (0.7320) since early Feb.

On the 0.236 Fib retracement from the new high, the 0.7220-0.7228 S/R is again tested before breaking lower and touching the long term 0.236 retracement.

Some bullish news due to come out later today on NZD/USD - (Business NZ Manufacturing Index)

0.7167 SL (pink line) - just below the lows of the previous support.

It'll probably totter at the 0.7200 level for a while but should return back up to the 0.382 retracement.

When it starts to move up, start to trail the stop as it'll doubtless totter at 0.382.
Date: Jun 15, 2017   


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