NZD/USD clean break of 0.6500 support seen, sell rallies
NZD/USD bear signs upped on clean break of 0.6500 support, price action dives below the cloud
Test of 0.6420 levels likely after global dairy auction to be held early on Wed. Dairy prices were down for the 2nd consecutive auction earlier this month and dairy futures suggest a 10 percent fall at Wednesday's auction
Immediate resistance for the pair is seen at 0.6511 (Daily cloud top) and support is located at 0.6436 (Oct 6 lows)
Recommendation: Good to sell rallies around 0.6475, SL: 06545, TP1: 0.6435, TP:2: 0.6380
Resistance Levels:
R1: 0.6511 (Daily cloud top)
R2: 0.6515 (5 DMA)
R3: 0.6535 (10 DMA)
Support Levels:
S1: 0.6436 (Oct 6 lows)
S2: 0.6430 (Daily Low Oct 5)
S3: 0.6385 (Daily Low Oct 2)
Test of 0.6420 levels likely after global dairy auction to be held early on Wed. Dairy prices were down for the 2nd consecutive auction earlier this month and dairy futures suggest a 10 percent fall at Wednesday's auction
Immediate resistance for the pair is seen at 0.6511 (Daily cloud top) and support is located at 0.6436 (Oct 6 lows)
Recommendation: Good to sell rallies around 0.6475, SL: 06545, TP1: 0.6435, TP:2: 0.6380
Resistance Levels:
R1: 0.6511 (Daily cloud top)
R2: 0.6515 (5 DMA)
R3: 0.6535 (10 DMA)
Support Levels:
S1: 0.6436 (Oct 6 lows)
S2: 0.6430 (Daily Low Oct 5)
S3: 0.6385 (Daily Low Oct 2)
