Overview:
The NZD/USD pair is expected to continue moving from the point of 0.8323 (it will call for a strong level). Thus, the kiwi shows the signs of strength following the breakdown of the highest level 0.8323. This fact can be considered as a good signal for buy deals above this strong support (0.8323) with the first targets at 0.8370 and 0.8480 (the level of 0.8481 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 0.8480 the market will further decline to the level of 0.8385 the weekly support 1, indicating bearish mood in order to retest the weekly support 2 at the level of 0.8323 in the long term.
Note:
Range of this pair will probably be around 120 pips this week.
Key level at the support 0.8323 (the trend will be started to go uptrend).
If you have any questions or requests, please feel free to contact me: mourad.elkeddani@analytics.instaforex.com.
