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Intraday forecastNew Zealand Dollar / US Dollar technical chart
SymbolNZDUSD
Release TimeJune 15, 2021 - 20:23
Advisesell (limit) below R1=0.7165
Intraday
Short term
Yesterday range27
Yesterday high0.7153
Yesterday low0.7126
Yesterday close0.7141
R30.725
R20.718
R10.7165
S10.7105
S20.7065
S30.7005
Trade setup

As we forecast downtrend for this day, so Forecast City suggests sell (limit) below R1=0.7165.
But the short term forecast is range bound, so we expect to reach the following targets:
TP3: S1=0.7105.
TP4: S2=0.7065.
Set the stoploss of these orders at breakout of R2=0.718.

Stop and reverse:
If trend gets reversed, buy (stop) orders will be opened at breakout of R2=0.718.
In this situation, there is an expectation to reach the target R3=0.725.
Set the stoploss of reverse orders at breakout of R1=0.7165.

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