MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.



Expert In



Technical analysis of NZD/USD for June 13, 2016


NZD/USD is expected to trade in a lower range. The pair has been capped by its descending 20-period and 50-period moving averages since June 10 and is likely to challenge its nearest support at 0.7030. Meanwhile, the relative strength index stays below its neutrality area at 50 and calls for further decline. To sum up, as long as 0.7120 is not surpassed, the risk of a slide below 0.7030 remains high. Our next down target is set at 0.6980.

Trading recommendations:

The pair is trading below its pivot point. It is likely to trade in a lower range as long as it remains below the pivot point. Short positions are recommended with the first target at 0.6980. A break of this target will move the pair further downwards to 0.6940. The pivot point stands at 0.7120. In case the price moves in the opposite direction and bounces back from the support level, it will move above its pivot point. It is likely to move further to the upside. According to that scenario, long positions are recommended with the first target at 0.7150 and the second one at 0.7185.

Resistance levels: 0.7150, 0.7185, 0.7230

Support levels: 0.6980, 0.6940, 0.69

The material has been provided by InstaForex Company -