NZDUSD - Intraday - We look to Buy at 0.6423 (stop at 0.6388)
Price action continues to be mixed and volatile for 3 days in succession resulting in spikes in both directions. Buying posted in Asia. Broken out of the channel formation to the upside. Broken out of the wedge formation to the upside. The formation has a measured move target of 0.6498. Bespoke resistance is located at 0.6493. There is scope for mild selling at the open but losses should be limited.
Our profit targets will be 0.6498 and 0.6503
Resistance: 0.6498 / 0.6513 / 0.6550
Support: 0.6123 / 0.6400 / 0.6340
Price action continues to be mixed and volatile for 3 days in succession resulting in spikes in both directions. Buying posted in Asia. Broken out of the channel formation to the upside. Broken out of the wedge formation to the upside. The formation has a measured move target of 0.6498. Bespoke resistance is located at 0.6493. There is scope for mild selling at the open but losses should be limited.
Our profit targets will be 0.6498 and 0.6503
Resistance: 0.6498 / 0.6513 / 0.6550
Support: 0.6123 / 0.6400 / 0.6340
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