Technical Analysis for NZD

Technical Analysis for NZD

NZD/USD bearish attempts are contained in levels above the resistance of the downtrend, where the support and resistance converged. The pair also resides above 0.8155 – basis of our expectation for an uptrend. Stability above that levels helps carry the pair into a bullish wave however, in order to confirm that outlook, the pair should stabilize above 0.8275.

The trading range expected today is between the key support at 0.8155 and the key resistance at 0.8355

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

Support: 0.8200, 0.8185, 0.8155, 0.8135, 0.8100
Resistance: 0.8225, 0.8275, 0.8310, 0.8355, 0.8385

Recommendation Based on the above graph and explanation, we recommend buying the pair above 0.8200 targeting 0.8275, 0.8310 and 0.8355 and stop-loss at four-hour closing below 0.8155.