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FX.co ★ NZD/USD: technical analysis for December 12, 2013

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Forex Analysis:::2013-12-12T05:32:03

NZD/USD: technical analysis for December 12, 2013

NZD/USD: technical analysis for December 12, 2013

NZD/USD:

  • Resistance: 0.8373 (sell below this level).
  • Support: 0.8190 (buy above this level for retesting this level in the short term).
  • A double bottom will be set at the level of 0.8183.
  • Trend: upward (the trend still calls for the bullish market).
  • Range: 80 pips (weekly).

Trading recommendations:

  • According to the previous events, the price is still between the levels of 0.8314 and 0.8260.
  • The descending movement will probably be lower than the 0.8370 level with the first targets at 0.8313 and 0.8195.
  • Buy deals are recommended above 0.8190 with targets at 0.83 and 0.8366.

Analyst InstaForex
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