NZD/USD found the resistance at 76.4% Fibs applied to the descending channel breakout point. The pair broke below the uptrend trendline and currently it is rejecting the 50 Moving Average. The MA should act as resistance inviting sellers.
Consider selling NZD/USD at the current rate (0.7170) while it is near 50 MA, targeting either 38.2% (0.7120) or 23.6% Fibs. (0.7075). The suggested stop loss should be very tight at 0.7183.
Support: 0.7157, 0.7120, 0.7076
Resistance: 0.7193, 0.7238
From www.instaforex.com http://ift.tt/2dCjdaT
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