NZD/USD May Extend Its Growth!


NZD/USD rose considerably after escaping from the down channel pattern. I have told you in my analysis that the pair could develop a new upside movement if it passes above 0.7067.

Now it is traded at 0.7162 level below 0.7176 immediate high. It could decrease a little after the aggressive growth. A minor decline or a sideways movement could help us to catch a new upwards movement.

Trading Conclusion!

If it breaks above 0.7176, a former high, it is recommended to open long deals. A decrease to 0.7100 could push the pair to 0.7250 and 0.7300.

The material has been provided by InstaForex Company -