NZDUSD bearish below 0.7260

Kiwi reversed losses of previous two weeks and currently testing a critical resistance in the area between 0.7225-60$ .

A 4h candle close above 0.7260$ will open the door to 0.7330-60$ . I prefer going short at current level 0.7235$ and adding another position at 0.7258$ .

Take profit at 0.7125$ , then 0.7080$ ..I see #nzdusd heading back to 0.6950$ area and long term target 0.59$

The pair is also facing tough resistance at 0.7250$ area because of the 200 moving average on the 4h chart.

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

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