The option for today is a series of articles about binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
As a result of the overnight depreciation NZDUSD reached the technical support level at 0.7250, which could be considered as a potential neck line of bearish head and shoulder formation (H&S). There was a demand response and three hours later the market moved again north. These gains reached local resistance, which rejection could open the way to declines, and breaking the neckline of the H&S formation could make the trend continue in a slightly wider time horizon. In the short term, therefore, it is worth considering PUT option on this instrument.
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