Technical analysis of NZD/USD for December 31, 2013
December 31, 2013 3:15 pm
Overview: NZD/USD is to trade in higher range. Technically, the RSI is above its neutral area at 50.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at the level of 0.826 and the second target at 0.829 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8115 The breach of this target will move the pair further downwards and one may expect the second target at 0.8090. The pivot point stands at 0.8165.
Resistance levels: 0.826 0.829 0.832 Support levels: 0.8115 0.8090 0.8045
The material has been provided by InstaForex Company – www.instaforex.com
Overview:
NZD/USD is to trade in higher range. Technically, the RSI is above its neutral area at 50.
Trading recommendations:
The pair is trading above its pivot point. It is likely to trade in a higher range as far as it remains above its pivot point. As far as the price is above its pivot point, a long position is recommended with the first target at the level of 0.826 and the second target at 0.829 in mind. In an alternative scenario, if the price moves below its pivot points, short positions are recommended with the first target at 0.8115 The breach of this target will move the pair further downwards and one may expect the second target at 0.8090. The pivot point stands at 0.8165.
Resistance levels:
0.826
0.829
0.832
Support levels:
0.8115
0.8090
0.8045
The material has been provided by InstaForex Company – www.instaforex.com
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