NZD/USD technical analysis for October 4, 2013

Overview: 

The NZD/USD pair will continue moving straight from the level of 0.8200 (at H1 chart 00% of Fibonacci retracement levels: 0.8216), additionally it is probably going to form a double bottom. Therefore, the Kiwi is showing the signs of strength following the break of the highest level of 0.8216. Thus, it will be a good sign to buy above the level of 00% of Fibonacci retracement levels at H1 chart (the double bottom) with the first target of 0.8305 and further to 0.8370 (it will act as strong resistance for that it is going to be a good place to take profit, as well as it also should be noted that this level of taking profit will coincide at 100% of Fibonacci). On the other hand, in case the reversal takes place and the NZD/USD breaks through the support level of 0.8253, so the market will lead to a further decline to 0.8213, in order to indicate a bearish market for October 4, 2013.