Forex Trade of the Day July 13th
NZDUSD – Impulsive in Strength
After forming two PBars making higher lows each time, the pair has gotten impulsive breaking 7000. From here it formed an upward sloping wedge which meandered into the 20ema to use it as support and launch again higher breaking the 1 month highs. These highs at 7150 become interim support and 7100 offers a really solid base for a move higher. We suspect higher ground as long as 7100 holds so gentle pullbacks to the 20ema can be used as entries to go long targeting 7345 and 7490.
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