Technical Analysis for NZD

Technical Analysis for NZD

Last week, the NZD/USD pair attempted to breach the downtrend's resistance but it fell back down, opening this week below that resistance. We believe trading above 0.8155 is positive, also an impetus pushing for more bullish attempts.

The trading range expected ffor this week is between the key support at 0.8050 and the key resistance at 0.8385

The short-term trend is upside targeting 0.8130 if 0.8845 remains intact

Support: 0.8225, 0.8200, 0.8155, 0.8110, 0.8050
Resistance: 0.8270, 0.8310, 0.8355, 0.8385, 0.8400

Recommendation Based on the above graph and explanation, we recommend buying the pair above 0.8225 targeting 0.8270, 0.8310 and 0.8355 and stop-loss at four-hour closing below 0.8155 this week.