Technical Analysis for NZD

Technical Analysis for NZD

The pair rose yesterday in response to oversold signals shown on Stochastic. Meanwhile, trading is still stable below Linear Regression Indicator 55 keeping the possibility of negativity valid. The previously suggested bearish move depends on breaking the medium-term ascending channel shown on the graph.

The trading range for today might be among key support at 0.8100 and key resistance at .8355.

The general short-term trend is expected to the upside with daily steady daily closing above 0.8130 targeting 0.8845.

Support: 0.8225, 0.8200, 0.8190, 0.8160, 0.8135
Resistance: 0.8275, 0.8310, 0.8355, 0.8385, 0.8400

Recommendation Based on the charts and explanations above, our opinion is selling the pair below 0.8275 targeting 0.8225, 0.8190 then 0.8155 and stop-loss with four-hour closing above 0.8310 might be appropriate