The NZD/USD pair is expected to continue moving from the point of 0.8200 (it will call for a strong level). Thus, the kiwi shows the signs of strength following the breakdown of the highest level 0.8200. This fact can be considered as a good signal for buy deals above this strong support (0.8200) with the first targets at 0.8245 and 0.8300 (the level of 0.8300 will serve as a strong resistance and is considered to be appropriate for take profit orders). It should be mentioned that this level will coincide with the weekly support 1. However, in case of a reverse movement and if the NZD/USD pair fails to break through the resistance level of 0.8300, the market will further decline to the level of 0.8212 the weekly support 2 indicating bearish mood in order to retest the weekly support 3 at the level of 0.8126 for a long term.
Range: 174 pips.
Volatility: 146.16, therefore the market indicates the higher volatility.
Strong levels:
0,85630,85090,8412
0,82150,82770,8348
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
