Technical analysis of NZD/USD for December 01, 2017
December 1, 2017 12:21 pm
Our first target which we predicted in Yesterday’s analysis has been hit. The pair remains under pressure below its nearest resistance at 0.6855. The process of lower highs and lows also remains intact, which should confirm a negative outlook on the prices. In addition, the relative strength index is heading downward, without showing any reversal signal.
In these perspectives, as long as 0.6855 holds on the upside, look for the further decline to 0.6810 and 0.6785 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point, which indicates long positions. If it remains below the pivot point, it will indicate short positions. The red lines are showing the support levels and the green line is indicating the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.6870, 0.6900, and 0.6945
Support levels: 0.6810, 0.6785, and 0.6730
The material has been provided by InstaForex Company – www.instaforex.com
Our first target which we predicted in Yesterday’s analysis has been hit. The pair remains under pressure below its nearest resistance at 0.6855. The process of lower highs and lows also remains intact, which should confirm a negative outlook on the prices. In addition, the relative strength index is heading downward, without showing any reversal signal.
In these perspectives, as long as 0.6855 holds on the upside, look for the further decline to 0.6810 and 0.6785 in extension.
The black line shows the pivot point. Currently, the price is above the pivot point, which indicates long positions. If it remains below the pivot point, it will indicate short positions. The red lines are showing the support levels and the green line is indicating the resistance levels. These levels can be used to enter and exit trades.
Resistance levels: 0.6870, 0.6900, and 0.6945
Support levels: 0.6810, 0.6785, and 0.6730
The material has been provided by InstaForex Company – www.instaforex.com
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