NZDUSD: At Key Support

NZDUSD: is currently trading below .730, as you can seen in the chart is at the key support of the main structure. Although a bounce to the upside is highly possible, a bearish breakout to the downside is also likely as all eyes is on USD Jackson Hole. Nevertheless, pairs such as EURUSD and GBPUSD still have room left to push;Thus, will weakened the USD and push NZDUSD higher. Therefore, if the price manages to remain above .735 for a week a buy position is wise. While a bearish breakout below .720 could be a good opportunity to sell NZDUSD.


Plan A: Buy at .725, Target Price .750/.765, Stop Loss .715

Plan B: Sell if Price is below .715, Target Price .700/.685, Stop Loss .725

Daily Chart

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