Technical analysis of NZD/USD for February 12, 2014
February 12, 2014 5:45 am
Overview:
It should be noted that the key level has set at the level of 0.8378. Therefore, this level is going to act as the strong resistance on February 12, 2014. As it is known, history will probably repeat itself at this level again. According to the previous events, the NZD/USD pair is still moving between 0.8255 and 0.8345.
Sell at the price of 0.8378 with the first target at 0.9296, then it will continue towards 0.8214 in order to test the weekly pivot point. On the other hand, if the trend fails to close below the pivot point at the level of 0.8200 in H1 chart. Consequently, Buy above the 0.8215 price with target at 0.8370. It should also notice that the level of 0.8378 is representing the weekly resistance 1. Notwithstanding, it has to review the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
The material has been provided by InstaForex Company – www.instaforex.com
The material has been provided by InstaForex Company – www.instaforex.com
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