The breakdown of the important short-term resistance level 0.7093 will confirm the completion of the downward correction and will become an additional signal for the resumption of long positions in NZD / USD. The growth target will be the resistance levels 0.7240 (Fibonacci level 38.2% retracement in the global wave of the pair's decline from the level 0.8820), 0.7300. More distant growth targets are located at resistance levels 0.7430, 0.7550 (50% Fibonacci level), 0.7600 (see also "Fundamental Analysis and Recommendations")
In an alternative scenario and after the breakdown of the support level of 0.7025, NZD / USD will resume its decline with the target at the support levels of 0.7000, 0.6945, 0.6865 (Fibonacci level 23.6%).
Trading recommendations
Sell Stop 0.7070. Stop-Loss 0.7110. Take-Profit 0.7025, 0.7000, 0.6945, 0.6900, 0.6865, 0.6840
Buy Stop 0.7110. Stop-Loss 0.7070. Take-Profit 0.7200, 0.7240, 0.7315, 0.7380, 0.7430, 0.7550, 0.7600
*) NZD/USD: Current Fundamental Analysis and Market Expectations
**) the most up-to-date "hot" analytics and trading recommendations (including entries into trades "by-the-market") - https://t.me/fxrealtrading
