The NZD/USD pair is expected to continue moving from the point of 0.8215 (it will call for a strong level). Thus, the kiwi shows the signs of strength following the breakdown of the highest level 0.8215. This fact can be considered as a good signal for buy deals above this strong support (0.8215) with the first targets at 0.8270 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 pivot point. 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 0.8172 the weekly support 1 indicating bearish mood in order to retest the weekly support 2 at the level of 0.8093 for a long term.
Range: 201 pips.
Volatility: 167.14, therefore the market indicates the higher volatility.
Strong levels:
0.84810, 0.84280, 0.8288
0.80790, 0.81600, 0.8214
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
