Technical Analysis for NZD

Technical Analysis for NZD

The pair rose yesterday due to stability above 0.8155 levels which might extend the upside move and breach key resistance level of the bearish move. Breaching 0.8255 levels might support the extension of the upside move, while stability above 0.8275 levels might confirm the bullish move.

The trading range for today might be among key support at 0.8040 and key resistance at 0.8275.

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

Support: 0.8200, 0.8155, 0.8135, 0.8100, 0.8080
Resistance: 0.8275, 0.8310, 0.8355, 0.8385, 0.8400

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 0.8160 targeting 0.8225, 0.8260 then 0.8310 and stop-loss with four-hour closing below 0.8135 might be appropriate