Currently, NZD/USD is trading at 0.7062. The pair is trading at its 2 years high and hovering near its small resistance level . If the price breaks the resistance level at 0.7084, then it can continue its up trend towards its next resistance level . The entry price for long will be above 0.7084, 1st target price will be at 0.7156 and 2nd target price will be at 0.7200.
Follow proper risk management strategy to avoid unnecessary losses and to increase profitability, don’t risk more than 2% of your capital on each trade.
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Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.