NZD index is traded along the support level of 67.10. The currency pair NZD/USD shows the descendant truncated wave structure of the H1 level testing the support level of 0.6701. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator shows oversold conditions.
Trade idea:
Buy on breaching 0.6728.
Stop loss below …
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The general trend is ascendant. Awesome Oscillator indicates bullish divergence, and Stochastic Oscillator signals oversold conditions. The inclined channel of the descendant truncated structure is pierced.
Trade idea:
Buy when price breaches through 54.41.
Stop Loss – 53.00.
Target levels: 57.74; 61.15.
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