FX.co ★ NZD/USD Trading Recommendations 25th July 2016

The price has dropped well from 0.7015 previously. If you had taken positions at this level, continue to add onto your position for a further drop to 0.6920/0.6950. Stop loss remains at 0.7040. We can see how the 0.7015 is a very strong resistance level as the price keeps failing to strongly surpass it.

The RSI remains below our 81% resistance line, keeping our bearish view.

Trading Recommendations:

Sell now and at 0.7015

Take Profit at 0.6920/0.6950

Stop Loss at 0.7040