Fan Yang
All posts from Fan Yang
Fan Yang in Fan Yang,

NZD/USD Blasts 2014-High; 2011-High at 0.8845 in Sight

The NZD/USD was in a bearish correction in April, but has been moving well off of the support around 0.8520. 

(nzdusd 4H chart, 5/6)

Traders are buying NZD/USD ahead of tonight's NZ jobs data. The previous 2014-high at 0.8744 was broken during the 5/6 European session. 

The market looks overbought in the short-term. However, in the medium term, the market has opened up the 2011-high at 0.8845. 

If there is a throwback, the support levels to watch for will be at:
1) 0.8745
2) 0.87
3) 0.8635-0.8650