The option for today is an analysis cycle for 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 Friday’s growth, NZDUSD reached local resistance at the level of the right arm of bearish head-and-shoulder formation (H&S), where a strong supply response occurred.
Looking on H1 chart, we note that as a result of today’s declines we broke local support that we are currently re-testing from the bottom (as resistance). Rejection of this zone could open the way to further declines. In the short term, therefore, it is worth considering PUT option on this instrument.
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