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NZD/USD: Fibonacci analysis on 15.09.2015


15 September 2015

A growth can resume.

On the 4-hour chart, the NZD/USD pair few times tested the level of 0.6255 but could not overcome it. At present the pair is trading near the level of 0.6310 and could grow to the level of 0.6360 (a crossover between 23.6% Fibonacci correction, 38.2% arc and 50% fan) in the near future. Its breakout would lead to a growth towards 0.6425 (38.2% correction). However, there is a possibility of a further sideways movement towards a crossover between the level of 0.6310 and the 38.2% arc, and from there a growth to 0.6360 and 0.6425 or a fall to 0.6255. On the daily chart, the pair is trying to develop an upward correction, which, however, is not going to last for long.

Trading tips

Buy the pair from the current price with the target at 0.6360 and stop-loss at 0.6290.

Alternative scenario

Sell the pair below the level of 0.6310 with the target at 0.6255 and stop-loss at 0.6325.

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