Technical analysis of NZD/USD for April 29, 2014

Notes:

• The double top of the NZD/USD pair will set at the level of 0.8597.
• The support is going to set at 0.8494. And this level is going to represent the weekly pivot point on April 29, 2014.
• The major support has already represented the weekly support 2.
• Moreover, the double bottom is also coinciding with the major support in H4 chart.
• The price hit the weekly pivot point and the support 1 last week, because of the series of relatively equal highs and equal lows.
• We expect a range of 120 pips this week.

Intraday technical levels:

Date: 29/04/2014

Pair: NZD/USD

• Projected High: 0.8809
• Breakout (Buy Stop): 0.8754
• Strong Resistance (Sell Limit): 0.8724
• Current Pivot: 0.8591
• Strong Support (Buy Limit): 0.8457
• Breakout (Sell Stop): 0.8432
• Projected Low: 0.8382

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