Weekly technical levels of NZD/USD for March 18-21, 2014

Weekly technical levels of the NZD/USD pair:

Trading recommendations:

• As it is known, history will probably repeat itself at this level again. So, according to the previous events, the NZD/USD pair is still moving between 0.8600 and 0.8530. Additionally, it should be noted that the minor support is going to set at the level of 0.8525. Moreover, the level of 0.8525 is representing the weekly pivot point on March 18, 2014. Equally important, the resistance will be set at the price of 0.8613 and the double top is set at the same price too. Therefore, sell at the price of 0.8615 with the first target at 0.8525 in order to test the weekly pivot point, then it will be gone towards 0.8450 (the weekly support 1). On the other hand, if the trend fails to close below the weekly support 1, hence buy above 0.8450 with target at the price of 0.3600 this week. Please check out 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