On daily chart: NZDUSD is currently in a long term uptrend and price is above 200 SMA so should be looking for long trades. Price has pulled back and has found support on a convergence of 200SMA and 50SMA so should be looking to buy on the bounce if support holds . Price is also at lower Bollinger Band so price expected to rise. Stochastic RSI currently in oversold region.
I'll be looking to go long with a stop loss placed just under 200SMA. 1st profit target I'll be looking at the recent swing high at 0.73274
Lets see what happens!
I'll be looking to go long with a stop loss placed just under 200SMA. 1st profit target I'll be looking at the recent swing high at 0.73274
Lets see what happens!