Overview:
The NZD/USD pair is expected to continue the movement from the point of 0.8300/08320. Thus, the kiwi shows the signs of strength, following the breakdown of the highest level 0.8300/0.8320. This fact can be considered as a good signal for BUY deals above this strong support (0.8300) with the first targets at 0.8370, 0.8433, and 0.8480 (the level of 0.8520 will serve as a strong resistance level and is considered to be appropriate for take profit orders). It is necessary to mention that this level will coincide with the weekly resistance 1 (0.8518). However, in case of the reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8518, the market will show a further decline to the level of 0.8419 (the weekly pivot point) indicating a bearish mood in order to retest the weekly support 1 at the level of 0.8363.
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