Technical Analysis for NZD
By examining the pair’s movement we find that it’s still stable below key resistance level of the downside move shown on the graph. Meanwhile, the pair is trying to confirm stability above Linear Regression Indicators weakening it’s negativity; these classical mixed signals forces us to prefer to remain neutral today especially that trading between 0.8310 and 0.8200 levels carries high risks when there is no other intraday signals supporting the trend.
The trading range for today might be among key support at 0.8160 and key resistance at 0.8355.
The general short-term trend is expected to the upside with daily closing above 0.8130 targeting 0.8845.
Support: 0.8240, 0.8225, 0.8200, 0.8190, 0.8160
Resistance: 0.8275, 0.8310, 0.8355, 0.8385, 0.8400
Recommendation Based on the charts and explanations above, we remain neutral for now awaiting more confirmations for the next move