- RES4: 0.7855
- RES3:0.7837 (76.4% retracement of 0.80335 and 0.7175)
- RES2: 0.7800
- RES 1: 0.7740 (Apr 22nd high)
PRICE:0.7670 @10:15 GMT - SUP 1: 0.7649 (200 day HMA)
- SUP 2: 0.7580 (Cloud bottom)
- SUP 3:0.7540 (Apr 24th high)
- SUP 4: 0.7500
Commentary:
NZD/USD has formed a double top around 0.7735 and retreated from that level. Overall trend is still bullish as long as support 0.7640 holds.
On the downside minor support is around 0.7640 and break below drag the pair further down till 0.7580/0.7545.
The pair's major resistance is around 0.7740 and break above will target 0.7800 in short-term.
It is good to buy at dips around 0.7670 with stop around 0.7640 for the target of 0.7735/0.7800.
