Forecast:
- According to previous events, the NZD/USD pair is still moving between 0.8615 and 0.8560.
- Strong level (resistance) will be formed at the level of 0.8663 providing a clear signal for sell deals with the target seen at 0.8563.
- Stop-loss is to be placed above the double top at the level of 0.8703.
- Strong level (support) will be formed at the level of 0.8530 providing a clear signal for buy deals with the target seen at the 0.8363 level in order to test the weekly pivot point.
- If the trend breaks the weekly pivot point (0.8363), it will continue towards the weekly resistance 1 at the price of 0.8663
- However, the stop loss should never exceed your maximum exposure amounts. So, it is to be placed below 0.8520.
Weekly technical levels of the NZD/USD pair:
