NZDUSD - Breaks the wedge to the downside
NZDUSD - Intraday - We look to Sell at 0.6565 (stop at 0.6590)
Broken out of the wedge to the downside. The formation has a measured move target of 0.6385. Reverse trend line resistance comes in at 0.6567. The previous swing high is located at 0.6580. Preferred trade is to sell into rallies.
Our profit targets will be 0.6386 and 0.6350
Resistance: 0.6567 / 0.6580 / 0.6600
Support: 0.6519 / 0.6386 / 0.6350
Broken out of the wedge to the downside. The formation has a measured move target of 0.6385. Reverse trend line resistance comes in at 0.6567. The previous swing high is located at 0.6580. Preferred trade is to sell into rallies.
Our profit targets will be 0.6386 and 0.6350
Resistance: 0.6567 / 0.6580 / 0.6600
Support: 0.6519 / 0.6386 / 0.6350
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