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NZD/USD: technical analysis for July 2, 2013

July 2, 2013 12:00 pm

 
NZD/USD: 
Resistance: 0.7910 (sell below this level). 
Support: 0.7682 (buy above this level for retesting this level for a short period). 
Trend: downward (the trend still calls for a bearish market).
Range: 116 pips. A risk to reward ratio of 1:1.5 is recammended Risk of116pips must make a profit of 174,00

Trading recommendations:

  • According to the previous events, the price is still between the levels of 0.7775 and 0.7810. 
  • The descending movement will probably be lower than the 0.7910 level with the first targets at 0.7682 and 0.7600. 
  • Buy deals are recommended above 0.7600 with targets at 0.7680 and 0.7867.
Intraday technical levels:
Date & Time:2/07/2013 12:53 
Pair:NZD/USD 
Projected High:0,8032 
Breakout (Buy Stop):0,7977 
Strong Resistance (Sell Limit):0,7947 
Current Pivot:0,7773 
Strong Support (Buy Limit):0,7599 
Breakout (Sell Stop):0,7574 
Projected Low:0,7524 

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

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