NZD/USD: The bulls are trading in an uptrend channel.

General overview: The pair keeps bounce off immediate horizontal support. The pair turns bulls on the set for the buy-side in the market. The pair holds the level 0.7200 and keeps sits eye over the higher side in the market. The pair is under pressure in Tokyo as the US dollar firm’s strong performance in Wall Street. The pair keeps its positive high towards the north side in the market. The bulls are active again and show their energy towards the buy-side in the market. The pair keep a bullish eye on the market and keeps the momentum towards the buy-side in the market. The Kiwi has given back territory from a 6 week high On Monday as rising us bond yields take front and center of forex space, propelling the greenback to test recent resistance. The bulls are making a bullish view in the market on the 30 minutes chart we can say that bullish candlesticks are forming and after the death crossover, we can say that market sit towards the buy-side in the market.

Technical analysis: From the technical point of view we can say that market creates strong buy signals in the market. On the basis of the hourly chart, we can say that market sits towards the buy-side in market. The pair is taking the support from the 0.7181 level and rise towards the high side in the market. We can expect the market creates positive buy signals in the market. In chart minor, EMA line breaches the market from the bottom and the pair rises towards the north side in the market. For the time while the market makes the upward trend in the market, but if the pair will get strong support from SMA line then the pair will get a strong buy-side in the market. We can see strong bullishness in the market after the resistance line 0.7250 level. The market support level will be 0.7149 followed by 0.7099 and resistance is 0.7249 followed by 0.7299.

Trade idea: Our traders will buy at level 0.7199 followed by 0.7269 and 0.7309, stop loss will be 0.7119.

 

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