NZD/USD: technical analysis for December 4, 2013

Trading recommendations:

NZD/USD: (long term)

According to the previous events, the price has still been trapped between 0.8200 and 0.8150.

Long buying:
Buy above 0.8066 with the first target at 0.8185, it might resume to 0.8290. (long term)
Short selling:
Outlook -1-: Swing trade at 0.8300 in order to sell with a traget of 0.8175.
Outlook -2-: Below 0.8170 look for further descending movement with 0.8113 and 0.8070 as targets.

Note:

It should be noted that the market will turn to bearish sentiment from the level of 0.8300.
Time frame: Daily.
Range: 125pips – 210 pips (week).

Intraday technical levels:

Date & Time:4/12/2013 12:49

Pair:NZD/USD

Projected High:0,8400
Breakout (Buy Stop):0,8345
Strong Resistance (Sell Limit):0,8315
Current Pivot:0,8207
Strong Support (Buy Limit):0,8099
Breakout (Sell Stop):0,8074
Projected Low:0,8024

The material has been provided by InstaForex Company – www.instaforex.com

Trade Forex, Commodities, Stocks and more, trade CFDs on the Plus 500 CFD trading platform! *CFD Service. 80.6% lose money - Register a real money account here and get trading right away.