Technical analysis of NZD/USD for March 11, 2014

Forecast in the short term:

• According to previous events, the NZD/USD pair is trapped between 0.8522 and 0.8484.
• The resistance will be formed at the level of 0.8545 providing a clear signal for sell deals with the target seen at 0.8444.
• Stop-loss is to be placed above 0.8570.
• The support will be formed at the level of 0.8440 providing a clear signal for buy deals with the target seen at the 0.8530 level.
• Stop-loss is to be placed below 0.8415.

Notes:

• The weekly pivot point will set at the price of 0.8444.
• Range:120 pips. Hence, the risk of 120 pips must make a profit of 180 pips.
• Volatility: 151.78.

Technical levels:

• R3: 0.8725
• R2: 0.8624
• R1: 0.8545
• PP: 0.8444
• S1: 0.8365
• S2: 0.8264
• S3: 0.8185

Warnings:

• Stop loss should never exceed your maximum exposure amounts.
• As a rule, the market is highly volatile if the last day had a huge volatility.

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