Some more levels in this low volatility trading - Forex News by FX Leaders

Some more levels in this low volatility trading

Posted Monday, July 18, 2016 by
Skerdian Meta • 1 min read

NZD/USD – This forex pair is at 0.7105 at the moment which is a mild resistance level because that´s where the 20 moving average stands on the hourly forex chart. That moving average has provided resistance in the last three days. Above there comes the 0.7150-60 level where we can see the 50 and 200 moving averages, but l wonder the price will reach that far. Support levels come at 0.70.90 then 0.7060 which has been the low overnight.

The 20 moving average has provided strong resistance

USD/JPY – The range in this forex pair has been very narrow since the opening of the Tokyo session, which is totally the opposite of what we witnessed last week. Anyway, just in case it decides to make a move the closest resistance levels 106 and then 106.30 which was the high since the Brexit vote. Support stands at 10520-30 and then 105.00 which was the high on Tuesday and Wednesday and that´s where the 100 moving average stands on the H1 forex chart as well. 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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