Technical Analysis for NZD

Technical Analysis for NZD

NZD/USD's downtrend continued as expected, and it is likely to last throughout Wednesday's session as well. The support at 0.8355 is a key interval, breaking it will cause a decline in the pair's value. Linear Regression Indicators support these negative expectations

Trading range expected today is between the key support at 0.8280 and the key resistance 0.8500.

Short-term trend is upside targeting 0.8845 if 0.8130 remains intact.

Support: 0.8355, 0.8310, 0.8280, 0.8225, 0.8200
Resistance: 0.8380, 0.8400, 0.8415, 0.8450, 0.8485

Recommendation Based on the analysis above, we recommend selling below 0.8400, targeting 0.8355, 0.8310 and 0.8280 and stop-loss with 4-hour closing above 0.8450.