Hello traders, NZD/USD is trading at 0.7206. The price is trading in a upward resistance and support channel and can continue the same trend. As the price has touched its support level it can rebound back from here to continue trading in upward resistance and support channel. If the price breaks 0.7217 price level, it can continue its upward trend and then its resistance level at 0.7277 will be the target price.
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.
Do follow us for future Forex trend analysis and Ideas.
Thank you,
Rishikesh Lilawat
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.
