Technical Analysis for NZD
The pair managed to stabilize above 0.8480 levels that was considered a strong resistance and became now a strong support level. Stability above the mentioned level might extend the upside move if the pair stabled above 0.8400 levels, but as for today’s session stability above 0.8450 levels is significant. The positive Linear Regression Indicators supports our expectations.
The trading range for today might be among key support at 0.8400 and key resistance at 0.8600.
The general trend over short term basis is to the upside with steady daily closing above 0.8130 targeting 0.8845.
Support: 0.8480, 0.8450, 0.8415, 0.8400, 0.8385
Resistance: 0.8535, 0.8565, 0.8585, 0.8600,* 0.8675
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8480 targeting 0.8500, 0.8535 then 0.8565 and stop-loss with four-hour closing below 0.8415 might be appropriate