Forecast in the short term:
- According to previous events, the NZD/USD pair is trapped between 0.8522 and 0.8484.
- The resistance will be formed at the level of 0.8545 providing a clear signal for sell deals with the target seen at 0.8444.
- Stop-loss is to be placed above 0.8570.
- The support will be formed at the level of 0.8440 providing a clear signal for buy deals with the target seen at the 0.8530 level.
- Stop-loss is to be placed below 0.8415.
Notes:
- The weekly pivot point will set at the price of 0.8444.
- Range:120 pips. Hence, the risk of 120 pips must make a profit of 180 pips.
- Volatility: 151.78.
Technical levels:
- R3: 0.8725
- R2: 0.8624
- R1: 0.8545
- PP: 0.8444
- S1: 0.8365
- S2: 0.8264
- S3: 0.8185
Warnings:
- Stop loss should never exceed your maximum exposure amounts.
- As a rule, the market is highly volatile if the last day had a huge volatility.
